AIA NZ sponsors renewal of adviser wellbeing research

AIA NZ sponsors renewal of adviser wellbeing research | Insurance Business New Zealand

Life & Health

AIA NZ sponsors renewal of adviser wellbeing research

Follows the first-of-its-kind NZ study carried out in 2021

Life & Health

By
Kenneth Araullo

AIA New Zealand has announced that it is sponsoring a second independent research project that aims to better understand the mental health and wellbeing of financial advisers in New Zealand.

The 2023 New Zealand Adviser Wellbeing Research follows the first-of-its-kind study carried out in 2021. As its name implies, it aims to understand the current state of mental health among NZ financial advisers, exploring the habits and attitudes of advisers who have positive mental wellbeing, and further understand the mindsets and behaviours needed to evolve and manage significant market disruptions.

As is the case with the 2021 study, the research will be carried out in partnership with Sydney-based researchers Dr. Adam Fraser of The e-lab and Dr. John Molineux from Deakin University. AIA NZ chief partnership distribution officer Sharron Botica said that this research will help the firm be in a better position to understand, innovate and highlight opportunities in supporting the health and wellbeing of the NZ adviser market.

“We are pleased to be delivering this important research again in 2023. The 2021 results provided valuable insight into the key challenges experienced by financial advisers and has subsequently informed our approach to how we engage with them since,” Botica said.

2021 research findings

Findings from the 2021 edition of the New Zealand adviser wellbeing research include the following:

20% of advisers surveyed were seeking or had sought medical care for stress
15% had been advised by their doctor that they are in a high-risk category for heart disease or stroke
41% had a moderate to high mental health risk, almost double that of the risk of the general NZ population
60% of advisers cited newly introduced government regulations as a highly stressful aspect for their roles

The adviser wellbeing research is open until July 7 to all financial advisers in New Zealand, even for those not strictly involved in the life insurance industry. The insurer said that having done business with AIA NZ previously is not a requirement either.

As part of its efforts for better mental health, AIA NZ will also donate $10 to the Mental Health Foundation for every New Zealand adviser wellbeing survey response received, for up to $2,500. There will also be a draw for participants to win one of $250 Countdown vouchers.

Last month, the insurer also announced the commencement of its new women in leadership program, HIKITIA MAI, involving 15 of its own as it invests in the development and retention of the firm’s current and emerging female leaders.

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