The fruits of Money Managers' latest labour
Money Managers is launching its new line of insurance products at the beginning of April.
Thursday, February 10th 2005, 12:06AM
by Rob Hosking
The product range will cover life, illness, income protection, lump sum for disabilities, says Money Managers’ Kevin Brady.
The policies have been drawn up and training of advisers is currently under way, he says.
The move presents a departure for Money Managers – founder Doug Somers-Edgar made the lack of an insurance product a feature of the company when he started it nearly 20 years ago.
However now the company says clients are seeking insurance as part of their financial planning from the same company.
"We’ve based products around what the clients have told us they need, and we’re aiming to provide less complex, lightly charged and less difficult to understand products," says Brady.
Money Managers has already developed Orange as a brand, with its finance company of the same name having been launched a year ago.
Orange Insurance will be reinsured by Hanover Re. Somers-Edgar has talked of the company offering cheaper products than competitors, but Brady is a little more circumspect. “Some of our products will be cheaper, there’s no doubt a both that, but other’s wont’.”
Rob Hosking is a Wellington-based freelance writer specialising in political, economic and IT related issues.
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