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Old hand hangs up hat

After a 63-year insurance career Warren Duff has retired from the business that has been a huge part of his life.

BY MATTHEW MARTIN

On January 15, 1958, Warren Duff joined the National Insurance Company in Dunedin beginning what was to be a 63-year career in the insurance industry.

“I had not made up my mind at 18 years of age for any career and insurance had a mild appeal.

“After some five years, National promoted me to Rotorua as the company were opening a branch and were desperate for staff. They were long days and not what I enjoyed and after a reassessment of what I was there for, I called on Owen Longhurst, manager at Colonial Mutual Life.”

Longhurst said Duff was probably too young at age 25 to sell life insurance but he was prepared to give him go.

“Those first few months were desperate as I did not know what I was doing, then CML invited me to a course in Wellington where I met Raymond Benedict Creevey.

“Ray was a big writer and he discussed a number of pointers with me which I could understand. One was to call on all the people with ‘provided’ homes such as teachers, farmworkers and railway employees and offer them cover to secure a home for a potential widow.”

So, Duff decided to call on workers at Turangi where the dam was being built.

“I could not keep up with the business as cover on the person’s life deducted from wages was very popular ... on one trip I completed 17 sales in two days.

“This led me to other areas such as the prisons at Rangipo and Hautu where the wardens all had provided homes, it was business galore.”

It was at this time that Duff filed his first claim for a death “... and that cemented the popularity of the plan design because prospects could see the plan at work”.

However, Colonial needed Duff to move to Hawke’s Bay and so he was transferred as a manager to Hastings where the local branch was "... indeed very sad".

After 17 years in management, he decided it was time to return to the road so Duff formed a brokerage business – Hawke’s Bay Insurers – where he applied the techniques he had used years before, but this time on farm managers and the like.

“One day a young man called into the office to insure a boat.

“He accepted my quote then I asked him his occupation, he was the farm manager of a large station in the bay. I pointed out his exposure and he agreed to cover on his life and paid the $40 premium deposit.

“An hour later he was dead. He had swerved to avoid hitting a person on a pedestrian crossing, hit a lamppost and was killed. I still had the proposal on my desk.

“Colonial paid the claim, and it reinforced what I was doing in the business as offering protection where it never existed. The widow was able to purchase a home that she never knew was in her husband’s estate. The policy was in force for say one hour.”

Duff then moved into partnership cover and again witnessed how important life insurance was when he arranged cover for two men in the deer processing business.

“A month later one was accidentally killed in the bush, mistaken for a deer. The business continued with a large injection of cash, [his] widow was bought out and the business prospered.”

‘I could not keep up with the business as cover on the person’s life deducted from wages was very popular ... on one trip I completed 17 sales in two days’

His next step was a move into business life insurance where he had more success.

“I recall canvassing a horse breeder one day and enquired how he was going to replace his star stallion when the horse died.

“He had never thought of this but listened to what I had to say. I left with a cheque for $9,600 to place in escrow to provide funds for the replacement of his stallion.

“Then there was the time when in a small country town I called on the local teacher but alas he had a brother who worked at Government Life, as it was then.

“As we were walking along the path, I spied his new Honda so enquired how he was going to replace it when it was time for a trade.

“He agreed and placed $50 per month into an escrow account to use to purchase his replacement car. I wrote a lot of business with this technique.”

Duff’s records show he has processed 179 death claims, but there could be more as clients occasionally moved to other parts of the country.

“I was told by a retired manager at Colonial that my claims would now exceed $1 billion through death, maturing endowment, superannuation payments as well as surrenders.

“I do not have details of all these claims but can say I am delighted to have played a part in many people’s welfare.”

Duff was also a member of the Hawke’s Bay branch of the LUA and a strong believer in the association he feels should still be in business today and be a better option than all the legislation “... that is killing the profession”.

“We had wonderful conferences where organisers went to great expense to get the best speakers in the business to address us. I would never miss these events.

“I have been fortunate in being able to attend conferences in Bali, Acapulco, Melbourne, Sydney, and all New Zealand cities to hear the best in the business address us, simply to be remotivated and come away with at least one idea.

“This was the best avenue to remain enthused and on track.”

In his later years, Duff spent more time working with fire and general insurance, where he originally received his grounding in the business.

Over the years Duff has received 29 inhouse, national and international awards for production, quality of production and persistency.

“Sadly they are now placed in a container under the billiard table as they only relate to my work. No one else is interested in the past.”

For Duff, the latest change to regulations were enough for him to hang up his boots for the final time.

“It looks like they are charged with rooting out problems where there are none, I just don't want a bar of their agreements so retired on March 31, after 63 uninterrupted years in the business.

“Sadly, the life insurance industry is seen as ‘not fit for purpose’, and definitely unpopular with the Government.

“Consider the number of Mutual Life offices that have closed in New Zealand – estimated at over 20 – I doubt if one remains, it’s just too hard to do business in New Zealand.

“I know how hard it was for the building society offices to exist.

“For 31 years I was a director of HBS and we could not continue due to the taxation applied by the government, so the industry, in essence, closed down.

“It is sad for the life offices to exit the business after trading for more than a century. They provided an excellent avenue for people to save as well as have protection.

“The current situation we have in the country where there is no money for homes is caused by the interference over the years from people who do not understand the savings business.”

But Duff says overall, he’s had a wonderful life in the world of insurance.

“Going into a business with a ballpoint pen as plant, no stock to control and thousands of people to see.

“I hope the public note the TV advertisements for the skill and assiduity of the representatives is a service rapidly approaching something of the past. The best-laid plans of mice and men cannot be purchased over a TV screen.

‘Sixty-three years in the one occupation is something I can write on my CV if ever called on, I doubt if it will be equalled, but this story might prompt comment’

“Sixty-three years in the one occupation is something I can write on my CV if ever called on, I doubt if it will be equalled, but this story might prompt comment.”

Duff has retired to his lifestyle property in Mandeville, North Canterbury. A