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.

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Munich Re look at how insurers can develop prevention strategies

Prevention is all about intervening before a disease or condition occurs – trying to extend the health span of peoples’ lives and prevent claims from arising in the first place. Munich Re’s Life Science Report looks at prevention strategies insurers can implement.

Munich Re’s Life Science Report 2025 has insights on global trends and risks that will shape the insurance industry over the next decade. We’ve written about their in-depth looks at AI in Healthcare and Improving Cancer Outcomes sections, and now we’re looking at their Prevention chapter. 

Prevention is all about intervening before a disease or condition occurs – trying to extend the health span of peoples’ lives and prevent claims from arising in the first place. 

In order to develop effective preventative strategies, insurers need a deep understanding of each of their clients’ unique characteristics, risk factors and health trends. Insurers should focus on areas where they’ll get the most bang for their buck, addressing lifestyle factors that contribute to the most significant preventable health risks and claims drivers – namely cardiovascular disease, cancer and mental health conditions. The key preventable causes for these are obesity, unhealthy diet, physical inactivity, smoking, excessive drinking and poor sleep patterns. Munich Re have a range of tables showing the impact of preventive measures on mortality, disability, critical illness and health care costs.

Munich Re categorise preventative health measures based on the stages of disease they are intended to prevent:

  • Primordial prevention - preventing development of risk factors for the entire population

  • Primary prevention - prevent onset of disease e.g. through lifestyle adjustments and medications

  • Secondary prevention - early diagnosis (e.g. through screening programmes) and prompt treatment

  • Tertiary prevention - manage existing disease to minimise complications and improve outcomes to prevent further morbidity and mortality

  • Quaternary prevention - protect from medical interventions that are likely to cause more harm than good.

To be effective, targeted interventions need to address an individual’s unique needs. By using personalised risk profiling, digital risk scores and advanced analytics, insurers can tailor interventions to maximise impact. To be efficient, insurers need to be able to amplify their prevention efforts to reach a wide audience and use digital systems to automate processes and incorporate real-time feedback. One of the most effective means of prevention is improving health literacy, the ability to navigate health information and make informed decisions. Munich Re suggest that informing policyholders about prevention benefits, enhancing health literacy, making things easy and incentivising members will all help drive positive health outcomes.

As we’ve already seen starting to occur here in NZ, insurers are positioning themselves as active participants in the well-being of their policyholders (with AIA’s Vitality programme perhaps the most notable example of this). We’d love to hear from you instances where your clients health insurance has led to them taking proactive steps to improve their health.

More news:

AIA employees return to newly renovated office space at AIA House in Smales Farm

AIA launch the third edition of Hikitia Mai, their Women in Leadership programme

Private hospitals may be asked to help pay for surgical trainees they take on during outsourced elective treatments

 

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Legal and regulatory update for the life and health insurance sector

FMA operational budget increases; Minister of Commerce and Consumer Affairs April diary released; FMA release Good Cents: Kiwis on savings and debt research.

25 May 2025 - The FMA operational allocation rose from about $71.3 million in the previous fiscal year to almost $78 million for the 2025/26 budget period. https://investmentnews.co.nz/investment-news/fma-wins-6-7m-pay-rise-on-compliance-enforcement-upgrades/

28 May 2025 - Minister of Commerce and Consumer Affairs, Hon Scott Simpson, April 2025 diary released with the following potential financial services sector related meetings noted:

  • 2 Apr 2025 – MEET: Kiwibank (Steve Juravich)

  • 3 Apr 2025 – MEET: Financial Ombudsman (Susan Taylor, Jane Meares)

  • 3 Apr 2025 – MEET: Commerce Commission Review Panel (Paula Rebstock,Allan Fels, David Hunt)

  • 3 Apr 2025 – MEET: Chair of ACC Board (Dr Tracey Batten)

  • 7 Apr 2025 - ATTEND: Financial Services Council Roundtable (invited guests)

  • 8 Apr 2025 – MEET: ACC Board (ACC Board)

  • 10 Apr 2025 – MEET: FMA (Samantha Barrass)

  • 14 Apr 2025 -MEET: Commerce Commission (Commerce Commission)

  • 15 Apr 2025 – MEET: ACC Officials (ACC, MBIE, Treasury Officials)

  • 15 Apr 2025 – MEET: MBIE Officials (MBIE Officials)

  • 17 Apr 2025 – MEET: Chair & CE of ACC (Dr Tracey Batten & Megan Main)

  • 23 Apr 2025 -MEET: MBIE Officials (MBIE Officials)

  • 29 Apr 2025 – SPEAK: Financial Services Leaders Roundtable (Invited Guests)

  • 29 Apr 2025 – MEET: ACC Board Chair (Dr Tracey Batten)

  • 30 Apr 2025 – MEET: AIA (Nick Stanhope)

https://www.beehive.govt.nz/sites/default/files/2025-05/Proactive%20Diary%20Release%20Simpson%20Apr%202025.pdf

29 May 2025 - The FMA releases Good Cents: Kiwis on savings and debt research, which looks into New Zealanders' attitudes and behaviours towards savings, debt reduction, and financial guidance. https://www.fma.govt.nz/news/all-releases/media-releases/good-cents-kiwis-on-savings-and-debt-research/

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AIA announce four new national sales manager appointments

AIA has made four new appointments within their Distribution team.

 
 

Aaron Gilmore has been appointed National Sales Manager, Retail. Gilmore has been with AIA since 2023 and has been an AIA Vitality Coach and Northern Region Manger, Business Development.

 

Carley Ellis has been appointed National Sales Manager, Aligned Advice. Ellis has 20 years of experience in New Zealand’s financial services industry and has a proven track record in business development, financial advice, and leadership.

Sarah Hepper has been appointed National Sales Manager, Corporate Solutions. Hepper has over 25 years of experience in the insurance industry, and has spent the past 15 years contributing to the growth of Corporate Solutions at AIA NZ

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AIA release Claims Compass Report

AIA have released their second Claims Compass Report, covering data for the year ended 31 December 2024.

AIA have released their second Claims Compass Report, covering data for the year ended 31 December 2024. AIA have over 797,000 Kiwi protected and accept 92% of all claims received.

In 2024, AIA paid out $829.6 million in claims, up $95 million on the previous year. Life accounted for 41% of all claims paid ($298.1 million), followed by Health ($167 million), Trauma ($139.5 million), Income Protection ($97.2 million) and Total Permanent Disablement ($23.9 million).

Life claims were up $34.6 million, Health claims were up $23.9 million and Trauma claims were up $22.4 million on the previous year. Increases in claims were put down to the combined impact of insurance levels increasing alongside inflation, more innovative treatment options with higher costs than established treatments, and growing demand for health services due to an aging population and growth in chronic diseases.

AIA NZ Chief Customer Officer, Maddie Sherlock said

“In New Zealand, we have observed increased rates of heart disease, cancer, diabetes, and poor mental health, brought about by worsening lifestyle factors such as diet and lack of exercise. These worsening public health trends lead to a higher demand for health services, which puts upward pressure on private health claims.”  

AIA have shone a spotlight on mental health. In 2024 $25.7 million was paid out towards mental health related claims, and $8.1 million for suicide claims. Mental health claims were highest for men aged 40 and 49 ($6.4 million), followed by men aged 50 – 59 (5.6 million). Sherlock said

“This big jump in claims for this age group reflects their life stage which is likely to be impacted by the weight of increased family, financial and professional responsibility and high demands upon their time.”

“This is the age where your overall health starts to be impacted by your nutrition, sleep and activity levels versus when you were younger. And your risk of lifestyle diseases increases. These changes can of course impact your confidence and overall mental wellbeing.”

The top AIA NZ mental health claims in 2024 were:

  1. Depressive disorders 44%

  2. Anxiety / panic disorders              14%

  3. Post Traumatic Stress Disorder      4%

  4. Chronic Fatigue Syndrome           3%

  5. Chronic Pain Syndrome                2%

 

More news:

Fidelity Life offers premium relief for severe weather-affected customers

FSC Empower Women event for Wellington Women in Insurance 27 May 

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AIA announce new leadership appointments

AIA have announced two new appointments to their Distribution team. Hannah Anderson has been appointed as Head of Retail Distribution, and Ben McQuay as Head of Corporate Solutions, effective from 28 April 2025.

AIA have announced two new appointments to their Distribution team. Hannah Anderson has been appointed as Head of Retail Distribution, and Ben McQuay as Head of Corporate Solutions, effective from 28 April 2025.

Anderson has been with AIA since 2021, most recently as Regional Sales Manager for the Southern Region. As Head of Retail Distribution, Anderson leads a team of business development managers providing support and strengthening relationships with advisers across New Zealand, within AIA’s IFA, Aligned Advice, and Home Loans distribution channels.

Hannah Anderson, Head of Retail Distribution

 

 Ben McQuay has been with AIA for the last 13 years, most recently as National Sales Manager – Strategic Accounts. As Head of Corporate Solutions, Ben leads AIA’s Group insurance distribution team, supporting long-standing relationships with organisations across New Zealand, while identifying and establishing new opportunities for growth within this important distribution channel.

Ben McQuay, Head of Corporate Solutions

 

AIA NZ Chief Distribution Officer Angela Busby said

“Hannah and Ben are valued existing members of our AIA NZ team, and I’m very proud to be able to promote some great internal talent with these appointments.”

“They are both highly experienced in business development and relationship management and have a strong track record of delivering great results for our advisers and distribution partners. I know their passion for our industry and their focus on growth will serve them well as they step into these roles.”

In other changes, AIA farewells Head of IFA and Group Distribution, Anna Schubert, and Head of Aligned Advice, Jack Newman.

 

More news:

Foundation Life policyholders can choose to take cash, swap for new policies with greater benefits or a combination in the firms’ windup

The unemployment rate remained at 5.1% in the March quarter

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MAS announce appointment of new CEO

Jo McCauley has been appointed new Chief Executive Officer of MAS, starting 4 August 2025.

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Proposed changes to Health and Safety Laws

We take a look at the proposed changes to Health and Safety laws, whereby the government wants to reduce compliance costs and provide greater certainty for businesses.

You may have seen the proposed changes to Health and Safety laws, whereby the government wants to reduce compliance costs and provide greater certainty for businesses. Bell Gully have a good summation of the proposed reforms here, but basically the Government is endeavouring to reduce the compliance burden, clarify health and safety duties (including limiting obligations for small, low-risk businesses) and clarify the distinction between governance and operational health and safety responsibilities.

There are many opposing points of view on the changes. Council of Trade Unions president Richard Wagstaff has said

"It's disappointing to see the minister has ignored the widespread consensus on what New Zealand needs to do to improve its poor track record and instead has chosen to carve out small businesses from good health and safety practices.

Exempting small businesses from best practice health and safety makes no sense when we know that small business are riskier and need more support."

Institute of Directors general manager Guy Beatson said

"Clarifying that boards are accountable for risk management and safety culture - not hands-on management - will mean directors can better focus on their core governance role without inadvertently overstepping."

Mike Cosman, chair of the Institute of Safety Management said

"The reforms are focused instead on costs to businesses of prevention and not the much greater costs of harm.

This seems to be looking through the wrong end of the telescope to us because the cost of our poor health and safety record is north of $4.9 billion per year to say nothing of the impact on workers and their families."

Russell Hutchinson has taken a look at the proposed regulations and put in his two cents.

As a country we have a not-terrible, but not-so-good track record on health and safety. One measure is fatal accidents, here I have selected countries we often use in comparisons:

Clearly, we are not as bad as, say, the United States. If we delved into that we would see significant variation on a state-by-state basis – but let’s not worry about that for now. Compared to Australia, for roughly every three people who die in a workplace accident there, four will die here. Not so good. What’s surprising is how well the UK performs – better than France and much of the EU, and better than Japan, places I normally consider to be better organised and more prescriptive in terms of employee protections. Not so! I like it when we find good data which challenges my pre-existing view. It’s a reward for paying attention to the data.

Are the proposed changes to governance liability right or wrong? One argument could be that by reducing liability on directors the workplace will become less safe. Another view is that by ensuring we place responsibility on the people who are closest to the problem we will better target the point at which better decisions can be made. Probably we will not know which until we have seen this operate for some time. Progress always seems to be so slow. Incentives also count – and the role of ACC, which has many benefits to our economy, also has some negative effects, somewhat masking the price signal in this case. I wonder if that will also get talked about.

More news:

Russell Hutchinson explains Non-Pharmac medicines coverage

AIA introducing a new excess option to AIA Private Health

AIA have updated Rules to Reinstate Policies

FSC Workplace Savings Half-Yearly Function 2025 is on 21 May

Financial Advice NZ are holding a 'Community of Practice: Central District' on 29 April

How to reduce chronic inflammation in your body

Eating well and getting regular exercise are most effective longevity tactics

Report finds deposit insurance scheme could see deposit interest rates fall significantly

Commerce Commission puts banks’ clawbacks, conversions and disincentives under scrutiny

Health Infrastructure Plan released, which sets out a national, long-term approach to renewing and expanding public health facilities

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Quality Product Research: Research Advisory Board – Northern

Last month we held our first Research Advisory Board meeting of the year and got lots of valuable feedback on items ranging from ratings for rural key person to proposed rating of disclosure.

Last month we held our first Research Advisory Board meeting of the year with our Northern Representatives and as usual returned to Quotemonster HQ with lots of valuable feedback. 

Board members: Allan Gillbanks (Owner, Director of The Quantum Group) and Katrina Church (Director, Head of Client Engagement of Insurance People)

Independent Chair: Tony Dench

Insurer Observers: Laura Fitzpatrick (Asteron Life)

Research Team: Russell Hutchinson, Doreen Dutt, Sara Alani and Kim Oliver

The research advisory board reviewed the following topics:

  • Interim Cover: based on discussions, QPR will look to create some educational material on interim cover.

  • The Addition of Legacy Research to our Standard Quote Flow: for improved clarity, we’ll review renaming ‘Legacy products’ to ‘Closed products’ and look to include a workflow to help advisers handle legacy products.

  • Specific injury add-on compared to built-in for IP: we will review the value of Specific Injury as a built-in item vs a standalone item.

  • Finalised Rating for Rural Key Person: we announced the launch of rural key person cover ratings for five providers - AIA, Asteron Life, Fidelity Life, Chubb Life, and Partners Life. Based on discussions, we will review the rating differences for some specific features. We’ll also gather feedback on the weighting for home modifications and vocational rehabilitation to ensure the ratings accurately reflects their value.

  • The Proposed rating of disclosure: this is all about how easy it is to find policy documents on insurers’ websites and for customers to access all required documentation easily. We plan to review and rate this feature across all products in future.

  • The Proposed rating of Waiver of Premium: members liked the idea of splitting up the different types of premium waivers and having them as separate items (injury {traditional WOP}, parental leave, unemployment, and redundancy being the main 4 categories). Our research team will look to implement these changes in our database in the next few months.

  • Quote Functionality - Error Message / Exact Match vs Near Match: we’re looking into whether we’ll be able to implement near matches (rather than just exact matches) for products that are similar but not the same.

As always, the feedback from our Research Advisory Board meetings has been very valuable to our Research team and allows us to strengthen our research ratings by getting more insight into the adviser perspective. We look forward to meeting with our Central and Southern Advisory Boards later in the year.

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nib research finds more adults are staying on top of essential health screenings

Recent nib research has found that more adults are staying on top of essential health screenings, but costs remain a barrier.

Recent nib research has found that more adults are staying on top of essential health screenings, but costs remain a barrier. The research was carried out in February 2025 and surveyed 1,010 Kiwi, building on the last survey conducted in December 2023. Some of the key findings include:

  • An increasing number of adults are keeping up with necessary health screenings - up to date with eye checks (45% up from 43%), dental check-ups (36% up from 35%), and heart health screenings (31% up from 28%).

  • 30% believe their health is better than their peers, up from 25% in 2023.

  • Financial concerns are increasingly preventing Kiwi adults from accessing health checks, with 36% citing cost as a barrier (up from 29%).

  • 80% of those with health insurance are committed to health screening checks (vs 72% overall).

  • More parents feel clear about which screening checks their children need (72% up from 58% in 2023).

  • More parents believe an annual health check is essential for their children (84% up from 75% in 2023).

  • More children are staying up to date with common screening tests - hearing checks (54% up from 48%), dental check-ups (66% up from 55%), eye checks (57% up from 50%) and general health exams (59% up from 57%).

Rob Hennin, Chief Executive Officer at nib New Zealand, said

“Proactive health screenings can be lifesaving and it’s really encouraging to see that Kiwi are taking the reins when it comes to their wellbeing. It’s clear to see that accessibility and cost issues continue to be barriers.”

 

More news:

Jason Gunn announced as new AIA Vitality Ambassador

Gallagher introduce new fundraising initiative, Gallagher Club Kickback

Partners Life go live with “no signature required” for majority of policy administration processes

mySolutions roadshows run across May in Hamilton, Wellington, Christchurch and Auckland

mySolutions webinar 'Exclusive Small Business Group Health' is on 23 April

Financial Advice NZ are holding an Ethics Workshop on 8 May

TAP webinar 'Ready to see TAP in action?' 8 May

Westpac launches a pilot for a basic transactional bank account

Banking Reform Coalition wants FMA to get tough on banks not passing on OCR cuts in mortgage rates immediately

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Dr John Mayhew has died

We were saddened to hear that Dr John Mayhew, known to many as ‘Doc’, has passed away. Our deepest sympathies are with his family during this difficult time.

We were saddened to hear that Dr John Mayhew, known to many as ‘Doc’, has passed away. Our deepest sympathies are with his family during this difficult time.

Throughout his career, Dr Mayhew was involved in numerous national and international sports events, but his most recognised were being All Black team medic for almost two decades and club doctor at the Warriors for 14 seasons. He played a crucial role in advancing the field of sports medicine in New Zealand, contributing to research, education, and the overall development of medical practices tailored for athletes.  In 2016 he was made an Officer of the New Zealand Order of Merit for services in sports medicine.

Dr Mayhew spent 21 years at AIA NZ & Sovereign and was most recently the resident medical expert at AIA in his role of Chief Medical Officer. A message from AIA said,

“Doc was always ready to share his knowledge with our people, from answering complex medical questions, providing advice on claims, helping to decipher doctor’s handwriting, or just taking the time to talk all things rugby & the Warriors.”

A message from the FSC said,

“Dr. Mayhew will be remembered by the FSC team for his balanced perspective and insight, and his commitment to prioritising positive outcomes and the wellbeing of patients.”

Russell Hutchinson remembers him warmly as being part of the team at Birkenhead Family and Sports Medicine before he left to focus on sports medicine and the insurance industry.

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