Indian Newslink 15th June 2016 Digital Edition

JUNE 15, 2016
14 BUSINESSLINK
Unhealthy competition undervalues honest broker
Venkat Raman
venkat@indiannewslink.co.nz
Despite a rigid regulatory
regime in place, New
Zealand’s mortgage and
insurance brokerage
market is not immune to rogue
players, an insider says.
“It is not uncommon for
brokers to offer kickbacks to
customers – that is one variety of
dishonesty. But there is a more
serious version of over-valuing
properties to secure loans; no
one talks openly about this
unhealthy practice; but that
does not rule out its existence,” a
lender told Indian Newslink but
would not want to be named.
Protecting integrity
Gurudutt Satigrama, who
recently joined Transparent Finance
Limited (TFL) as Mortgage
and Insurance Adviser after
14 years as Chief Executive of
Vision Asia in Australia and New
Zealand, said that the Reserve
Bank of New Zealand (RBNZ)
and Financial Markets Authority
(FMA) would do what it takes
to protect the financial integrity
of our markets, which is getting
overcrowded with mortgage and
insurance brokers.
“RBNZ regulations on LVR
(Loan-to-Value Ratio) and rental
property are defined by their needs
to regulate the property market. We
will work within these regulations
to offer the best solutions to our
customers,” he said.
Mr Satigrama said that many
people, especially people of
Indian origin are not only
under-insured but also are not
well apprised of the products
and services available.
Poor Risk Management
“Risk Management is an
underserviced industry and it
is our focus to offer the right
insurance product that matches
the need of our clients. We can
do a ‘Free, No Obligation Review
of the insurance needs of Indian
Newslink readers. All they need
to do is call us on (09) 3905114.”
An engineering graduate with
postgraduate degree (Masters)
in Business management, Mr
Satigrama has worked for
major corporates in India and
hence understands the need for
proper risk assessment and risk
management.
Among the companies in
which he has worked are
McCann Advertising, J Walter
Thompson, BBDO, Star Vijay TV,
International Music Division
TV Software at Saregama India
(the last three as Chief Executive
Officer).
Industry responsibility
Mr Satigrama said that it was
incumbent on every mortgage
and insurance broker to ensure
compliance of the regulations
in force, since integrity and
discipline are vital to protect the
safety of our financial system.
“Mortgage and Insurance
industry is highly competitive
Gurudutt Satigrama
and competition is fierce with
a dog-eat-dog mentality. At
TFL, we believe in being totally
upfront and honest with our
clientele. We put the interests of
our clients first and deliver them
the best service that the Industry
offers,” he said.
“Honesty & Transparency in
our dealings with both Client &
the Provider is our ‘differential’
in this competitive Industry. Our
Directors Deep Bajaj and Nayan
Bhatt have extensive experience
in the finance industry, having
worked with leading banks in the
country.”
Services range
Among the services provided
by his company are Home
Loans, Refinancing Home Loans,
Restructuring Home Loans,
Investment Property Loans, Life
Insurance, Income Protection
Insurance, Medical Insurance,
Trauma Insurance and Total
Disability Insurance.
“We can arrange loans from
various banks and specialist
lenders as also insurance from
various insurance providers in
the market. TFL provides perhaps
the best customer support
service in the industry. The most
common problem that we face
in our daily routine is managing
the expectations of clients and
providers and walking the fine
line balancing the two,” Mr
Satigrama said.
As well as looking at avenues
to expand market presence and
market share, TFL constantly
reviews the performance of clients
and provides prompt advice
in loan servicing, restructuring
finance with change in individual
circumstances, regulatory
changes and other developments
of significance.
Email: guru@transparentfinance.co.nz
Online platform connects job givers and seekers
Sargam Sekhri
Rahul Suchdev and
Manfred Lange,
co-founders of
‘HOICpro,’ have developed
it as an online platform
on which employers and candidates
connect with each other
directly, complete all stages of
the recruitment process in simple
logical steps and build their
market and talent brands.
Employers define searches,
post advertisements, receive
responses, access updated
and verified profiles, and make
offers.
Candidates control their profiles,
negotiate contracts, accept
or decline offers and recommend
peers. It is a platform
with real jobs, genuine candidates
and no recruiters.
Fletchers, The Warehouse,
Air New Zealand, Progressive
Enterprises (Countdown),
Bravura, Automobile
Association, ClearPoint and
Fraedom are actively accessing
and engaging with a pool of
more than 1800 candidates on
HOICpro.
Discounted Packages
The platform offers discounted
accounting and indemnity
insurance packages
to users through its respective
partnerships with MYOB and
AdviceFirst, offering direct benefits
without anyone clipping
the ticket.
The HOICpro platform has
evolved from its launch and development
in the New Zealand
IT market. It is now ready to
add new industries, starting
with accounting and finance,
and then, progressing into banking
and insurance.
The Principals
Rahul and Manfred, who have
35 years of professional experience
between them, one as a
Rahul Suchdev
well-regarded business and recruitment
specialist, and the
other in various leadership positions
in software organisations,
are supported by a small
agile team comprising developers,
design and communication
consultants and an advisory
board.
They bill HOICpro as an innovative,
New Zealand-grown
business that has cut its teeth in
a very competitive and diverse
market.
They are proud to be a part of
a collective effort focused on developing
HOICpro to be responsive
to the recruitment needs
of organisations and workforce
alike, across sectors in New
Zealand and globally.
Their parting advice is to candidates
and is based on unan-
Manfred Lange
imous feedback from various
clients on HOICpro.
Clients prefer candidates who
complete their profiles and create
a brand that truly reflects
the candidate’s skill sets and
experience.
Interfacing people
For candidates. this means
using the video feature to help
clients put a face to the name,
getting all work experiences
verified, and uploading all
certifications.
Using the ‘My Activity’ feature
helps candidates keep track
of all applications and roles.
HOICpro has been designed to
support candidates and clients
equally to maximise value from
the platform and from the recruitment
ecosystem.
www.hoicpro.com