Chatswood serves the life and health insurance sector in New Zealand with market intelligence, data, and bespoke consulting services. Some of these are provided in conjunction with Quality Product Research Limited - a subsidiary that brings you Quotemonster.
We believe that good decisions are more likely to occur when we have good information about the market environment in which we operate. Intuitive leaps and creative decisions are always required, of course, but the more they are based on a firm foundation of observation, the better they tend to be.
Next week is Privacy Week
Privacy Week 2024 runs from May 13 – 17. This year, the office of the Privacy Commissioner have chosen the theme ‘busting privacy myths’. There are a range of online events you can attend, and they will all be recorded and added to their YouTube channel.
Privacy Week 2024 runs from May 13 – 17. This year, the office of the Privacy Commissioner have chosen the theme ‘busting privacy myths’. There are a range of online events you can attend, and they will all be recorded and added to their YouTube channel.
Monday 13 May
11:00am - Myth: Māori data sovereignty is too hard – introductory
1.00pm - A hacker's view of data breaches – introductory
Tuesday 14 May
8.30am - In-person IAPP Knowledge Net event – Wellington
10.30am - Busting myths about privacy and cyber security – introductory
12.00pm - Biometrics and you – intermediate
3:30pm - Sharing personal information: Why aren’t we sharing when we have authority to do so? – Intermediate.
Wednesday 15 May
9.30am - If I'm not doing anything wrong, what do I have to hide? – Introductory
10.45am - Safeguarding children and young people's privacy in New Zealand – Introductory
12pm - Resolving Privacy Complaints: Internal Resolution and Working with OPC – Introductory
2pm - What’s missing from the conversation on AI? – Intermediate
Thursday 16 May
9.15am - Privacy for Charities and Not-for-Profits: tips and tricks - introductory
10.30am - All privacy breaches need to be reported to the Privacy Commissioner? – intermediate
1.15pm - Managing Privacy in the Data & Generative AI Era – Intermediate
2.30pm - Young people don't care about Privacy - Debunking the myth – Introductory
Friday 17 May
9.00am - Sharenting, Children and Privacy – The fine line between 'cute' and 'concerning'
10.30am - Privacy is More than Compliance: Transforming Privacy into a Strategic Business Advantage - Advanced
12.00pm - Data Privacy: Protecting Children in the Digital Age – Introductory
2.00pm - My DNA will only be used in this way - busting privacy myths about DNA - Introductory
There is a range of collateral available for you to put on your website or social media or pop up around the office here and a quiz you can take with your team available here.
More daily news:
nib offers respondents to Workplace Wellbeing Survey a chance to win
ICNZ has welcomed the first reading of the Contracts of Insurance Bill
The government calls for public submissions on the Contracts of Insurance Bill
Financial Advice New Zealand appoints new Head of Professional Development
Financial Advice New Zealand has appointed Cecilia Farrow to the newly created role of Head of Professional Development.
Financial Advice New Zealand has appointed Cecilia Farrow to the new role of Head of Professional Development. Farrow was a former director on the Board of Financial Advice New Zealand.
Farrow says
“Throughout my 27 years in financial services, I have been passionate about contributing to lifting financial advice to a professional status. The settings are in place now for all financial advisers, irrespective of the scope of advice they specialise in, to be recognised as a professional. We know this will increase trust by consumers and reduce barriers to kiwi’s seeking out quality financial advice. It’s exciting to have the opportunity to spearhead the Financial Advice New Zealand professional development programme and professional designations pathways to support our members to reach the pinnacle of their chosen career.”
Following Cecila running a powerful workshop on the subject of professional designation for insurance advisers at the recent Financial Advice New Zealand conference in Wellington, this appointment makes a great deal of sense. We wish Cecilia all the best with this important portfolio, and we intend to amplify messages around the value of a good industry-based practitioner’s qualification, and lend a hand where we can.
More daily news:
nib adviser health promotions are available for Advisers to access via Fidelity Life’s E-App
FSC event 'New Zealand and Climate Change: Where are we now?' 12 June
Real Mortgages merges with adviceHQ
Southern Cross Healthcare hospitals partner with Baxter Healthcare to recycle PVC IV bags
Public health experts warn low immunisation rates put New Zealand at risk of large measles epidemic
New Zealand’s unemployment rate rises to 4.3%
KiwiSaver financial hardship withdrawals hit an all-time high of $29.3 million in March
AIA appoints Chief Product and Strategy Officer
AIA NZ has appointed Alex Kühnast as Chief Product & Strategy Officer.
AIA NZ has appointed Alex Kühnast as Chief Product & Strategy Officer. Kühnast joins AIA from KPMG New Zealand, where we was Principal – Head of Insurance Consulting & Actuarial Services. In his newly created role, Kühnast will look after Product, Pricing, Investments and Strategy.
AIA NZ CEO Nick Stanhope said
"Alex’s appointment is exciting for us. He is a natural fit at AIA NZ with his passion for health and wellbeing, and he has a wealth of international experience, having lived and worked in his home country of South Africa, the Netherlands, United Kingdom and of course now New Zealand.”
More daily news:
The FMA is assessing 52 submissions on Outcomes-Focused Regulation consultation
Roxanne Salton talks about Southern Cross Health Society's technology strategy
Tony Vidler writes of how to create top of mind awareness
PWC summarises opportunities posed by open banking
Pharmac allocated largest ever budget of $6.294 billion over four years
Hon Paula Bennett has been appointed as member and chair of the Pharmac board
Haydee Stroud appointed FSC’s Acting CEO
Haydee Stroud has been appointed Acting CEO at the Financial Services Council (FSC).
Haydee Stroud has been appointed Acting CEO at the Financial Services Council (FSC). Stroud will take on the role from 8 May, following Richard Klipin’s resignation.
Stroud has been with the FSC since 2017. FSC Board Chair Rob Flannagan said
“Haydee has played a key part in the FSC’s growth and success over the last seven years, and holds a wealth of knowledge and experience in the FSC’s ecosystem, operations and vision.”
“We are confident that Haydee will lead the FSC with stable hands and sustain the momentum the FSC has built in 2024 whilst the Board continues recruitment for a CEO.”
More daily news:
Fidelity Life Engage Conference 2024 will be held 6 - 7 November
Financial Advice NZ webinar 'Achieving Higher Compliance - Three Common Shortcomings' 8 May
Number of people suspending KiwiSaver contributions due to financial hardship highest in a decade
Doctors strike as some get pay rise while others get pay cut
Inquiry finds New Zealand’s emergency management system is not fit-for-purpose
Legal and regulatory update for the life and health insurance sector
15 Apr 2024 - The Reserve Bank of New Zealand release estimates of New Zealand’s Nominal Neutral Interest Rate. https://www.rbnz.govt.nz/hub/news/2024/04/finding-neutral
15 Apr 2024 - The Australian Securities and Investments Commission confirmed a number of changes to its senior executive leadership team. ASIC CEO Warren Day is leaving to join the CDPP on secondment as the Director’s Executive Officer, effective 1 June 2024. Executive Director of Regulation and Supervision Greg Yanco will be appointed as ASIC’s Interim CEO effective 1 June 2024. Executive Director of Enforcement and Compliance Tim Mullaly has also advised that he will be retiring from ASIC at the end of July 2024. https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-075mr-changes-to-the-executive-leadership-team/
Southern Cross Healthcare integrate Te Ao Māori into operations
Southern Cross Healthcare is intensifying its efforts to incorporate Te Ao Māori principles.
Southern Cross Healthcare is intensifying its efforts to incorporate Te Ao Māori principles. Dean Cowles, nationa nursing advisor for Māori affairs is spearheading the effort to enhance Southern Cross staff’s understanding of and connection to Te Ao Māori. He says
“Our aim is to embed Te Ao Māori in all that we do at Southern Cross Healthcare. Our Te Ao Māori journey will strengthen our ability to improve Māori health outcomes and future-proof our Māori workforce.”
Initiatives include a Māori Navigation framework aimed at ensuring comprehensive and holistic care for Māori; setting up Hospital Hauora Māori Committees at local levels; rolling out Kaimahi roles across all locations; and conducting clinical tikanga workshops.
More daily news:
mySolutions webinar presented by Steve Maley, 9am 10 April
Financial Advice webinar 'Raising Awareness of the Value of Financial Advice' 10 April
The National Strategy for Financial Capability Partners Conference is on 8 & 9 May
Apex Advice are looking for a Data Specialist in Auckland
Katrina Shanks talks about the importance of mentoring in finance
Research points to the gender pay gap as the main cause for women contributing less to KiwiSaver
25% of roles at the Ministry of Health, about 180 jobs, proposed to be disestablished
Asteron Life to be sold to Resolution Life Australia
Resolution Life Australasia has acquired Asteron Life from Suncorp Group for a purchase price of $410 million.
Resolution Life Australasia has acquired Asteron Life from Suncorp Group for a purchase price of $410 million. Asteron Life has about 165 employees servicing more than 180,000 customers and their advisers. Resolution Life Australasia is part of Resolution Life, a global life insurance group with around 14 million policyholders.
The acquisition is still subject to New Zealand regulatory approvals, with the deal expected to complete in approximately nine months. If the purchase goes ahead, Resolution Life will become the second largest life insurer in New Zealand.
Tim Tez, Chief Executive Officer Resolution Life Australasia, said
“This acquisition further demonstrates our commitment to the Australasian market and our success in growing our business in the region… Asteron Life presents a compelling opportunity to continue to grow through new individual and group customers while continuing to support existing customers.
Resolution Life will support the Asteron Life business with its momentum and success in the New Zealand life insurance market. As a trusted life insurer, Asteron Life will continue to operate as a standalone New Zealand licenced life insurance company, under its existing brand in New Zealand and support advisers and their customers using the same dedicated team and management.”
More daily news:
The FSC publish their Life Insurance Industry Spotlight December 2023
The Triple A Advisers Association and Plus4 Insurance Solutions have merged
Seven Sharp featured Kate Dron chatting about what it means to be an actuary
Next version of NZCFS Level 5 has been submitted for approval with NZQA
Southern Cross Health Insurance has appointed Andrea Brunner as its Chief Operating Officer
Marsh releases ‘New Zealand insurance market update 2023: Year in review’
Deloitte and FintechNZ launch the 2024 New Zealand Fintech Pulsecheck
Associate Health Minister David Seymour says changes to the Medicines Act could be needed
Legal and regulatory update for the life and health insurance sector
2 Apr 2024 - The Reserve Bank has announced two new members of its Monetary Policy Committee (MPC). Carl Hansen and Prasanna Gai are set to join the set-member MPC responsible for the crucial monetary policy decisions that uphold price stability in New Zealand. Hansen began his tenure April 1, succeeding Peter Harris. Gai will start on July 1, taking over from Caroline Saunders. https://www.beehive.govt.nz/release/reserve-bank-appointments
2 Apr 2024 - The Reserve Bank of New Zealand has welcomed progress on whenua Māori lending. The Māori Land Court recently released a practice note in regard to lending on Māori freehold land - whenua Māori. The note provides guidance to assist landowners, lawyers and the banking sector with lending against Māori freehold land. https://www.rbnz.govt.nz/hub/news/2024/04/rbnz-welcomes-progress-on-whenua-maori-lending
2 Apr 2024 - The Financial Markets Authority is considering a class exemption that would allow listed companies to bring certain green, social, sustainable, and sustainability-linked (GSSS) bonds to market more quickly and without incurring most of the regulatory costs of a full retail investment offer. This would operate on a similar basis to the same class exclusion available in the Financial Markets Conduct Act 2013 (FMC Act), that allows companies that are already-listed to raise further capital using simple, streamlined disclosure. Submissions close 30 April 2024. https://www.fma.govt.nz/business/focus-areas/consultation/consultation-proposed-exemption-for-certain-green-social-sustainability-and-sustainability-linked-bonds/
2 Apr 2024 - Changes to ACC’s Accredited Employers Programme (AEP) aim to deliver a better experience for businesses and workers whose work injury claims are handled by the organisation directly, rather than through ACC. Accredited employers will be given better insights into their performance, more support and guidance to help them improve their worker’s experience as well as injured workers being better supported by their employers.
The changes focus on 4 areas:
Claims and injury management assessment: An improved assessment of the claims and injury management that also better captures workers’ experience and remove unnecessary compliance.
Performance monitoring: A new performance monitoring model that will give accredited employers access to clear and up-to-date information on their performance, the ability to lift performance, and incentives to perform better.
New health and safety assessments: An updated ACC health and safety audit process and a new option of ISO 45001 certification will drive higher quality health and safety systems.
Updated pricing options: More choices under the Partnership Discount Plan, enabling employers to take on longer claims management periods, providing workers with complex injuries greater assurance and more continuity of support.
The changes will take effect from 1 April 2025, with 1 years notice, so accredited employers and ACC have time to prepare and adapt their processes and systems.
https://www.mbie.govt.nz/about/news/final-changes-to-accs-accredited-employers-programme-confirmed/
2 Apr 2024 - The Reserve Bank of New Zealand publish an op-ed by Reserve Bank Governor Adrian Orr. https://www.rbnz.govt.nz/hub/news/2024/04/rbnz-op-ed-on-cofr
Quarterly rate review results in rising premiums at nib
nib has reviewed its health insurance premiums. Current members’ premiums are reviewed annually at their policy anniversary, with the increases ranging from 9% to 16%, as per below.
Premiums for prospective new members will be updated from 1 April 2024, with new rates being automatically updated in nibAPPLY.
You can find out more in their frequently asked questions here.
More daily news:
mySolutions webinar 'Ark Adventures' 9am 27 March
Craig Tyson leaves head of Australasian listed property role at ANZ investments
Maaike van Tol leaves head of asset allocation role at ANZ investments
FSC publish KiwiSaver Industry Spotlight December 2023
Asteron Life appoints new Executive Manager Life Distribution
Asteron Life has appointed Tony Arthur to the role of Executive Manager Life Distribution.
Asteron Life has appointed Tony Arthur to the role of Executive Manager Life Distribution. Arthur previously led sales distribution at Partners Life, and before that held senior executive roles at BNZ in the retail, marketing and distribution areas.
Asteron executive general manager Life Grant Willis says
"Tony has a deep understanding of the New Zealand life market and coupled with years of experience in senior executive roles in retail banking distribution and marketing, he has a solid track record in strategic execution and building relationships."
More daily news:
Southern Cross Healthcare has appointed Peter Gudsell as the new Chief Financial Officer
Partners Life provides major funding for a new mental health treatment programme
BusinessNZ says FMA's fair outcomes guide should be shelved
Richard Klipin announced as chief executive of Australia’s National Insurance Brokers Association