At the start of year, I predicated that 2020 would be a big year. At the time, I had no idea just how big, or exceptional, it would be! However, as I reflect on the year that was and where we are today, I’m buoyed with sense of cautious optimism. Australia looks to be emerging from this crisis in better shape than most.
We’re winning the battle against COVID-19 and finding a “new normal” as restrictions ease and borders open. We’ve seen unprecedented global collaboration and medical innovation to develop a vaccine and there are high hopes it will suppress the disease around the world. On the economic front, we’ve also bounced back from recession with a 3.3% rise in GDP last quarter and, whilst the recovery is expected to be uneven, the outlook for growth is encouraging.
At NEOS, we’ve also been extremely fortunate and I’m proud to say we’ve gone from strength to strength. Our unwavering commitment to delivering exceptional service has continued and we’ve been blown away by the positive response.
Once again, advisers voted us No. 1 in life insurance in the Adviser Ratings Landscape Survey, giving us a NPS of 55 in early results. We were also humbled to see the NEOS Experience translate into positive results for the September quarter, where we achieved a 15.5% market share of new business nationally.
None of this would have happened without adviser support – and for that I extend a sincere thank you to the Australian adviser community. This is an incredible affirmation that advisers value consistent, fast and friendly service.
Looking forward to 2021, advisers and their clients can expect more of the same from NEOS. Service is – and always will be – our top priority, with a dedicated BDM, underwriter and service consultant for every adviser and easy access to senior management. Advisers can also have confidence in our “back to basics” claims service, where every claimant is treated as an individual and given the utmost care and attention. And, unlike other product providers, you can count on us for pricing stability, including our un-matched three-year rate guarantee.
In line with APRA requirements, we’re also launching a new income protection product next year. Rest assured, we’re committed to helping advisers and their clients through this transition – watch this space for further updates.
As a country, we’ve been able to navigate our way through this crisis better than most and the future is looking brighter, especially for those who seek financial advice. The work advisers do to help their clients is incredibly important, and we’re very proud to be supporting them.
We look forward to continuing that support in 2021.