IBANZ has over 150 Member firms operating in the general (non-life) insurance market, employing in excess of 2,200 staff. Members write 85% of corporate risks and 15% of personal lines in NZ. Annual premiums in the non-life, private market are estimated to be $5.7 billion.
IBANZ provides Member benefits for:
- Single voice for the sector lobbying government
- Strong relationship with regulators
- Ownership of an NZQA accredited college: Professional IQ College
- Continuing professional development programme for staff
- Code of Professional Conduct
- Comprehensive Broker Manual
- Opportunity to influence professionalism by joining IBANZ Board
- Access to discounted member rates at PIQ College
- Continuing Professional Development (CPD) programme to maintain skills
- Personalised CPD record keeping through online dashboard
- Access to technical / legal assistance through iNavigator: "Ask an Expert"
- Membership app offering buying discounts
- Scholarships available for education
- Opportunity for local member meetings
- Good relationship with media to protect sectors image
- Support to resolve disputes
- Newsletters highlighting relevant matters for members
- CoverNote magazine for insurance professionals / organisations
- Substantial knowledge base resource – iNavigator
- Promotion of professionalism of insurance brokers
What IBANZ does for its Members
IBANZ gives strength and support to Members enabling them to better meet their challenges and opportunities.
It does this by staying involved with Government activity where the outcome of changes to legislation will have an impact on the insurance industry, and more specifically to fire and general brokers. The organization takes part in regular meetings with the regulators including the Financial Markets Authority (FMA) and is involved with the government Code Committee. IBANZ is also working with the industry ITO (Skills Organization) on a review of the level 4 / 5 National Certificate qualification and in particular the new insurance stream.
IBANZ has been instrumental in setting up Professional IQ College and is committed to the important role the College has in providing for and managing the educational and Continuing Professional Development (CPD) requirements for all financial services industry participants.
IBANZ remains engaged with key insurers providing a voice for brokers and acting as a sounding board for those insurers where input is required. The relationship between insurers and brokers is obviously key to the success of both of these industry stakeholders.
The IBANZ Code of Professional Conduct provides the public with assurance that Members act in a professional and ethical manner. IBANZ is committed to providing resources to assist its members in meeting the obligations of our Code. This commitment extends to include the development of better industry standards and the facilitation of a complaints procedures available to both the public and members to address complaints.
The scope and nature of interaction with government bodies is constantly evolving as new issues arise.
Current Advocacy Activity
IBANZ are currently involved with a number of legislation reviews, Members can log in to see a summary of current activity here.