AMS Insurance Management Joins FSC Community

10 Mar, 2022

The AMS Insurance Management Team has participated in Financial Services Council (FSC) events and read many of its publications over the years – but we have only recently taken the opportunity to join as a member.  We are really looking forward to strengthening our industry connection through the FSC community but thought it was also a good chance to reflect on what resonated with us in becoming a member.

Recognising the Life and Health and Insurance Communities

While as an organisation FSC covers a broad range of financial services it has a very specific interest groups around Life and Health Insurance.  While AMS is primarily a policy management solution supplier to the NZ Life Insurance sector we have a 30+ year history and related IP.  It is going to be great to have regular opportunities to engage with others who speak our language.  Health Insurance is another sector of interest for AMS and one we’re looking to get to understand better through the FSC.

Aligned Values

We had no hesitation in meeting the membership requirements around collaboration and clear communication.  That is AMS at its core.  We were also pleased to subscribe to FSC’s strategic intent:

  1. Strong and sustainable consumer outcomes
  2. Sustainability of the financial services sector
  3. Increasing professionalism & trust of the industry

These all resonate with our values as a company as does building a community of professionals, engaging over regulatory, advocacy,  providing leadership and insight across our industry sector.

Building a sustainable NZ FSC community

A lot of the work the AMS Insurance Management team does in policy management is about sustainability.  Creating a technical ecosystem that can continue to support more challenging historical products alongside newer, moduler risk offerings.  It is one of the biggest challenges we see in Life Insurance – it is for life. Your thinking can never be short term.

Taking FSC’s own statistics – there are NZD2.78 Billion in life insurance policies in the market. In becoming an FSC member we are looking to play our part in helping the wider NZ Life Insurance Sector be world leading in how it manages all the complexities in being sustainable and growing that investment for those it serves.  In taking up a membership we have made a commitment to not just be present but to really participate and give back to the industry. We challenge others to do the same.

Learn more about our AMS life insurance policy management solution.