Financial advice business Coversure, which is turning four in September, is looking to scale and has brought in industry novices with a “genuine passion” in a move to open up the sector to new people.
With the ‘weeding out’ that comes from the new financial advice regime in New Zealand, Coversure chief executive Jason Venu (pictured above) saw a springboard not just for growth but also to infuse fresh blood into insurance.
“From a business point of view, it’s an opportunity for us as a business to grow,” Venu told Insurance Business. “But it’s also an opportunity for us to help elevate people into our industry who wouldn’t see this as a career.”
In the case of account manager Viran Ranchhod (pictured below), however, the new arrival had long known he wanted to be part of the insurance industry.
Ranchhod, who joined Coversure via the company’s Avanoa initiative, wrote on LinkedIn: “For those of you that know me well, you would have been well aware of my desire to enter the financial services industry as an insurance adviser. Well, I’ve finally found my family at Coversure after all this time.
“Thank you, Jason Venu and the team, for allowing me the opportunity and for seeing something in me. I truly believe that this industry is where I can make a positive impact and really utilise my skillset… Let the journey of learning, educating, and making a difference begin.”
Ranchhod is currently working towards his New Zealand Certificate in Financial Services Level 5.
“‘Avanoa’ means ‘opportunity’ in Samoan,” Venu told Insurance Business, who also recently welcomed Nikki Mackenzie alongside Ranchhod as part of Coversure’s onboarding programme. “These are people who are new to the industry but have a genuine passion and desire to help our community.”
Mackenzie, who made the switch from a successful career in sales and customer service, is equally excited to have those important conversations with clients. While in training, she and Ranchhod work alongside a fully qualified financial adviser.
Venu noted: “Avanoa is a programme designed to help with their studies to get qualified so that, as soon as they’re qualified, they’ll be hitting the road running, reaching as many families as possible. We will guide them, and we will pay for their studies and supply their laptop and technology.”
The CEO, who cited empathy and authenticity as among the key traits he wants in advisers, went on to highlight: “We’re big on internal development. If we meet people that have a genuine desire to help families and a passion to really make a difference, then, ‘yes’, we will help them.
“It’s hard to find financial advisers out there; just as equally hard is to find people with the right heart, the right attitude, the right drive, and the right passion – those are the qualities that Coversure looks for, and it’s that important that our values align.”
According to Venu, the next six to 12 months will be an exciting period for Coversure as the business ramps up to be able to reach more Kiwis and coach them in managing their risk.
How else do you think the insurance industry can attract new people? Discuss in the comments below.
