IBANZ has over 100 member firms operating in the general (non-life) insurance market. IBANZ members employ approximately 5,000 staff of which approximately 2,500 staff are currently financial advisers. IBANZ members place general insurance cover equating to approximately 50% of all general insurance premiums ($3.5 billion) for approximately 1 million New Zealand customers with half of the general insurers operating in New Zealand. Our members commonly consider a number of different insurance contracts underwritten by a range of insurers and place cover on a daily basis.
IBANZ provides Member benefits for:
- Single voice for the sector lobbying government
- Strong relationship with regulators
- Continuing professional development programme for staff
- Code of Professional Conduct
- Opportunity to influence professionalism by joining IBANZ Board
- 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
- Regular communications to help keep current on matters relevant to the industry
- Support to resolve disputes
- CoverNote magazine for insurance professionals / organisations
- Advocacy on behalf of Members with all stakeholders
- 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.
We achieve this through staying involved with Government activity and legislative reform impacting the insurance industry, and more specifically fire and general brokers and their clients.
Our association takes part in regular meetings with many Government agencies including the Ministry of Business, Innovation and Employment (MBIE), the Financial Markets Authority (FMA), the Earthquake Commission (EQC),Fire and Emergency New Zealand (FENZ), Internal Affairs (IA) and Treasury as well as Ministers and opposition MPs. The scope and nature of our interaction with government agencies is constantly evolving.
We focus on providing high quality presenters who speak on a variety of fire and general and business topics under our Continuing Professional Development (CPD) offering to support Members deepen their knowledge and broaden their skills.
We engage with key insurers and the Insurance Council of New Zealand (ICNZ) to support the interests of brokers and their clients and act as a sounding board where input is required. The relationship between insurers and brokers is key to the success of all stakeholders within the insurance industry.
The IBANZ Code of Professional Conduct provides the public with assurance that Members act in a professional and ethical manner. It includes a disciplinary and complaints committee to review concerns that may 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.