The Insurance Council of New Zealand has today come out in support of the knowledge economy move by the Government.

Insurance Council members believe that many of the global pressures working on the insurance industry are reflected in the wider New Zealand economy. The insurance industry is currently coming to terms with the impact of globalisation, mergers and acquisitions, information technology and different forms of distribution.

The young New Zealanders who will find jobs in the insurance industry looking forward will have expertise in many of the areas that the knowledge economy initiative seeks to achieve.

While insurers recognise the significance of the primary sector as underpinning for our export earnings, the future is in the technology and ideas areas of international business. It is in this area that the Insurance Council supports the initiative taken by the Government.

The Insurance Council also finds it very positive that while other political parties have found some areas of disagreement with the knowledge economy it appears the wider political spectrum understands the importance for New Zealand to move toward a knowledge-based economy.

Insurance Council members applaud the move as a significant watershed in changing our perspective for future economic growth and job creation for young New Zealanders.

ENDS

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