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.
nib launches nib meno care
nib NZ has launched a new health management initiative, nib meno care, aimed at supporting women through the stages of perimenopause and menopause.
nib NZ has launched a new health management initiative, nib meno care, aimed at supporting women through the stages of perimenopause and menopause. The programme has been developed in collaboration with Dr Linda Dear, a specialist in menopause care.
nib members will be able to access expert advice on managing menopause symptoms – covering topics from lifestyle adjustments, to natural remedies and available medical treatments.
A 2023 survey Dear conducted found 64% of NZ women were unaware their symptoms, such as sleep disturbances and weight gain, were linked to menopause.
nib’s chief medical officer, Dr Rob McGrath, said
“Menopause is a personal journey, and no two women experience it the same way. That’s why we wanted to develop a tool to help women manage their symptoms on their own terms by making expert support easy to access and apply.”
More news:
ANZIIF welcomes Scott Hawkins as board member
The Adviser Platform rebrand and launch new website
NZFSG webinar 'Under the hoodie: Revealing the hackers' secrets' 22 October
FSC end of year celebrations dates announced: Auckland 26 Nov, Wellington 27 Nov
ACC’s latest annual report details an increase in claims and financial challenges
Deepfake scams on the rise
Research commissioned by MasterCard has found that 29% of New Zealanders and 18% of NZ businesses have been targeted by deepfake scams in the past year.
Research commissioned by MasterCard has found that 29% of New Zealanders and 18% of NZ businesses have been targeted by deepfake scams in the past year. Deepfake scams use generative artificial intelligence (AI) to impersonate individuals, with the aim of stealing their targets’ money or personal information.
Deepfakes scams can utilise video, images and audio and can look increasingly convincing. Confidence levels in the ability to correctly identify deepfakes are low, with only 12% of respondents confident they would be able to detect a deepfake scam. Deepfakes are eroding trust in public figures and digital platforms, with 41% of individuals being more sceptical towards celebrities and influencers; 61% of kiwis being less trusting of social media platforms; 40% of New Zealanders being less trusting of emails and 37% of respondents being less trusting of phone calls compared to the previous year.
Some steps businesses are taking to address these risks include employing identification verification for accessing sensitive information, offering cybersecurity training and conducting training on financial transactions.
More news:
mySolutions webinar 'How non-PHARMAC drugs are covered in our Private Medical offering' 23 October
Chubb’s Underwriting Click to Chat function is live on Adviser Hub
AIA health premiums increasing from 1 November
AIA release latest version of Underwriting Guide
Link Financial Group appoints Luke Roberts and Quentin Holmes as national growth managers
Tony Vidler talks about the importance of focusing on existing client base
AIA launch new campaign offering customers up to three months off their premiums
AIA NZ has launched its latest campaign which offers new and existing customers up to three months off their premiums.
First month free when customers take out a new eligible insurance policy between 18 September and 22 November 2024, and have the policy issued by 23 December 2024.
Second month free when customers add and activate AIA Vitality membership within 6 weeks of the policy being issued.
Third month free when customers reach Silver Status with AIA Vitality within the first 10 months.
Existing AIA Vitality member at Silver Status or beyond who buy a new eligible policy, automatically get three months premium-free on the new policy.
More news:
The Adviser Platform is offering its CRM system free of charge
Kirk Hope has started his appointment as Chief Executive Officer at FSC
AIA appoints new Chief Technology Officer
AIA NZ has appointed Luke Longney as Chief Technology Officer.
AIA NZ has appointed Luke Longney as Chief Technology Officer. Longney joined AIA in 2021 as Head of Technology – Digital and progressed to Head of Technology Experience.
AIA NZ CEO Nick Stanhope said
“We’re aiming to deliver the best possible online experience for our customers, advisers and partners, as well as our employees that support them. With his extensive experience and commercial background, Luke is well placed to lead the teams responsible for enabling and uplifting our digital delivery and capability into the future”.
More news:
Bell Gully have a good overview of the recently announced financial services regulation reforms
Rick Willis talks about the importance of not cancelling cover until you have moved to new insurance
AIA are finalists for two awards at the 2024 NZ Law Awards
mySolutions webinar 'Interviewing techniques: how to get people to open up' 11 Sep
Winners at the 2024 FSC Awards announced
Congratulations to all the winners, finalists and nominees at the 2024 Financial Services Council (FSC) Awards.
Congratulations to all the winners, finalists and nominees at the 2024 Financial Services Council (FSC) Awards. We’re lucky to work in an industry with so many dedicated, innovative people who have a passion for what they do; the awards recognise some of the best and brightest among us.
FSC Acting CEO Haydee Stroud said
“…it was a privilege to be able to see such a diverse range and high calibre of merit. Entrants contributions to the financial services sector and to the wider New Zealand community have all played a part in growing the financial confidence and wellbeing of all New Zealanders.”
Contribution to Community Award – Toi Ora - nib and Ngāti Whātua Ōrākei
Emerging Trailblazer Award – Leigh Bennett, Fidelity Life
Excellence in Governance Award – The Compliance Company
Workplace Savings Award – Bruce Kerr, Professional Trustee
Excellence in Sustainability Practices Award – AIA New Zealand
Excellence in Wellbeing & Inclusion Award – Southern Cross Health Insurance
Team of the Year Award – Operations Team, Sharesies
Chair’s Award for Services to the Industry – Ana-Marie Lockyer: Chief Executive Officer, Pie Funds
More news:
Steve Wright questions why we index life insurance but not health insurance
Financial Services Federation welcome CCCFA reforms
FAMNZ to launch the Adviser Elevate series on 2 October
The FMA plans to review the mortgage advice sector
Report estimates additional value advisers add
ASB wins Excellence in Social Purpose Driven Marketing Strategy at the New Zealand Marketing Awards
ASB sponsor the Climate Change & Business Conference 2024
Southern Cross release their Healthy Futures Report
Southern Cross have released the Healthy Futures Report 2024, which surveyed 2,000 New Zealanders about their health and wellbeing behaviours.
Southern Cross have released the Healthy Futures Report 2024, which surveyed 2,000 New Zealanders about their health and wellbeing behaviours. Some of the key findings include:
The biggest concerns for New Zealanders were the cost of living (91%); violence in society (86%); not having access to good, affordable healthcare (84%); and affordable housing, mental health and not having access to cancer treatment services all at 82%.
Health professionals remain the main source of health information (64%), followed by online articles/websites (52%), but social media is increasing in popularity with young people and Pasifika people (up 6% to 27%).
A majority of people seek treatment immediately (12%) or within a day or two (47%), though 10% usually don’t seek professional advice or treatment.
The main barriers to accessing healthcare include cost (35%) and wait times being too long (34%). There has been a jump in people not being able to access healthcare at the time they want (up 4% to 20%).
When it comes to dental treatment, the main barriers are cost (60%) and not being covered by medical treatment (13%).
New Zealander’s define ‘healthy’ as mental wellbeing (70%), avoiding smoking and tobacco (70%), getting enough sleep (67%), eating a balanced diet (67%) and emotional wellbeing (66%).
Physical health concerns include level of fitness (65%), making sure kids eat healthy foods (65%), long term physical health effects (65%) and family health and wellbeing (65%).
The average kiwi exercises for 30 minutes, three times a week – 61% don’t feel they are getting enough exercise. Being too tired (33%) and not having enough time (32%) continue to be the main barriers to exercising.
While 92% of kiwis consider themselves knowledgeable about what healthy food is, 82% consider healthy eating to be expensive and 74% would like to lose weight.
·The top emotional wellbeing concerns are concentrated around family, with kiwis concerned about whether their children will cope with the pressures of life (60%), not having enough money to support myself/my family (55%) and parents/relatives getting elderly and needing care (51%).
Only 44% of New Zealanders consider themselves as getting enough sleep, with those living with kids or living with a disability being more sleep deprived than others. Reasons given for not getting enough sleep included having too much to think about (49%), going to bed too late (41%) and being anxious or stressed (40%).
While 88% consider work life balance to be important, only 33% consider they currently have a good balance. Factors kiwis consider as important to achieving a good work/life balance include having flexible working hours (43%), switching off from work when finished for the day (43%) and sticking to set work hours (34%). Conversely, factors contributing to a negative work/life balance include workload being too high (60%), financial pressures (46%) and not having flexible working hours (40%).
Actions New Zealanders are taking to look after their emotional health and wellbeing include keeping your brain stimulated (60%), spending time outdoors (58%), nurturing and maintaining relationships (54%) and spending more time with family (52%).
More news:
AIA revise launch date for Accidental Injury cover
Partners Life New Adviser Training Course on 21 October
Finger-prick blood test developed to detect the hallmark protein in early Alzheimer’s
Te Whatu Ora and West Coast Health propose closing all after hours GP services
Changes announced to the way police respond to mental health call-outs
What advisers think of KiwiSaver
At our latest roadshows, we’ve been lucky enough to have Generate KiwiSaver Scheme join us, giving advisers insights into the benefits of offering KiwiSaver advice. We’ve also been finding out what our roadshow attendees think about KiwiSaver.
At our latest roadshows, we’ve been lucky enough to have Generate KiwiSaver Scheme join us, giving advisers insights into the benefits of offering KiwiSaver advice. We’ve also been finding out what our roadshow attendees think about KiwiSaver.
To date, the results show that for those advisers who are already offering advice on KiwiSaver investments, the top reasons for offering KiwiSaver are diversifying revenue, building a KiwiSaver book for long term value and adding value to clients. Advisers have told us that performance, ease of withdrawals and alternative fund options are most important to clients when choosing a KiwiSaver provider. And 27% of advisers were interested in additional resources or support related to KiwiSaver advice and independent research.
If you haven’t joined us already, come along to one of our remaining roadshows to find out more – along with info on KiwiSaver we’ll be highlighting some major new research, talking about two new regtech tools to help keep you safe, giving you a sneak peek at Kiwimonster, and much, much more.
More news:
Fidelity Life extend 3 months free until 31 December 2024
Michael Weston talks about key priorities at Partners Life
Jon-Paul Hale highlights the good advisers do
Asteron Life are looking for a Lump Sum Claims Specialist
Study finds three-quarters of respondents have realised the importance of financial knowledge
FAMNZ launch inaugural Adviser Elevate series on 28 August
AIA sponsor the Parliamentary Rugby Team
Charlene Overell is the Financial Advice New Zealand Volunteer of the Year
AIA celebrate 5 years of AIA Vitality
AIA have released some statistics about AIA Vitality to celebrate five years of AIA Vitality being in the market
AIA have released some statistics about AIA Vitality to celebrate five years of AIA Vitality being in the market.
To date, over 60,000 people have joined AIA Vitality.
On average, an AIA Vitality member in New Zealand completes a health and wellbeing assessment available in the app every 15 minutes.
AIA Vitality members have completed over 18,500 free Vitality Health Checks.
Since becoming AIA Vitality members:
79% have moved to a healthy glucose range from an unhealthy glucose range.
64% have moved to a healthy cholesterol level from an unhealthy level.
49% have moved to a healthy blood pressure range from an unhealthy range.
Less than 50% of New Zealanders meet the recommended guidelines of 2.5 hours of weekly physical activity but 95% of AIA Vitality Silver+ members meet this target.
AIA Vitality members combined have walked the length of New Zealand 1,295 times.
Members have achieved over 86,800 Status Reward vouchers and 976,500 Active Rewards vouchers – a combined worth of $9.1 million in rewards.
To celebrate the anniversary, AIA is giving customers who activate their AIA Vitality membership by 31 October the chance to win one of 20 Woolworths Gift Cards, each worth $500. Existing AIA Vitality members who hit their $5 weekly physical activity target anytime between 5 August and 1 September, go in the draw to win 1 of 5 Apple Store Gift Cards worth $729.
AIA have recently made some improvements to AIA Vitality, with a new AIA Vitality app with enhanced features and functionality being launched in April this year.
More news:
AIA offer clients a chance to win a year's insurance
The FSC runs a Money Month campaign on Money and You website
Partners Life and Banqer launch free financial literacy course
AIA appoint Bianca Bettini as new AIA Vitality Coach
Andrew Bayly says the CCCFA’s director and senior management liability provisions to stay
Westpac connect Volley to their Open Banking platform
Bell Gully put together an overview of the Customer Data Right bill and the CDR framework
Finance Minister says she wants external investors for outside capital for Kiwibank
GP’s having to raise fees after insufficient government funding increase
AIA release 'Claims Compass' report analysing claims data
AIA have released a new report ‘Claims Compass’ analysing their claims data. Cancer was responsible for AIA’s highest number of claims across all insurance categories last year.
AIA have released a new report ‘Claims Compass’ analysing their claims data. Cancer was responsible for AIA’s highest number of claims across all insurance categories last year, with AIA paying out $133.9m for life insurance claims for cancer and $244.1m for cancer claims across all categories. AIA’s top cancer claims in 2023 were breast cancer (33.4%), melanoma and skin cancers (20.3%), bowel cancer (6.5%), prostate cancer (6%) and lung cancer (4.6%). Cancer is the leading cause of death and serious illness in New Zealand, with 71 people diagnosed with cancer every day in New Zealand.
Angela Busby, AIA NZ Chief Customer Officer, said
“Almost every New Zealander will have some experience with cancer throughout their lifetime – whether that’s personally or through a friend, neighbour or loved one…”
“The prevalence of these cancers highlights the critical importance of regular screening and taking preventative measures to manage your health and encouraging loved ones to do the same.”
“Because while developing cancer might appear to be something that is beyond our control, we know that early detection is the best form of protection. Many cancers can be successfully treated if diagnosed early, with an estimated one in three people recovering in New Zealand.”
AIA accepted 92% of all claims for the year ended 31 December 2023, paying out $734.8m. Of the total paid, $263.5m was paid out in life insurance claims and $143.1m was paid in health claims. The image below shows the reasons for claims across AIA’s life, health, trauma, income protection and total permanent disablement categories.
AIA release their 2023 Sustainability Report
AIA has released its 2023 Sustainability Report: Sustaining Healthier, Longer, Better Lives.
AIA has released its 2023 Sustainability Report: Sustaining Healthier, Longer, Better Lives. Key highlights include:
Achieved Toitū carbonreduce certification
Paid 92% of claims received, totalling $734.8M in 2023
Grew to 55,000+ AIA Vitality members, encouraging members to improve their physical and mental wellbeing
Invested into the Betashares Global Sustainability Leaders and Australian Sustainability Leaders funds
Began transitioning fleet to hybrid vehicles to reduce fuel usage
2023 Gallup Engagement Survey Top Quartile in global finance and insurance industry benchmark
Partnered with the Sustainable Business Council, hosting a webinar highlighting their Environment and Our Health Report.
AIA was recognised for its sustainability efforts, winning the 2023 Australian and New Zealand Institute of Insurance and Finance Awards for Excellence in Environmental, Social and Governance (ESG) Change, and the Financial Services Council of New Zealand Award for Excellence in Sustainable Practices.
Nick Stanhope, AIA NZ CEO, said
“At AIA NZ, our dream is for New Zealand to be one of the healthiest and best protected nations in the world. We understand that environmental sustainability not only has an impact on the wellbeing of our planet, but on our physical and mental health as well.
By rolling out initiatives and practices which support our ESG goals, we’re demonstrating our commitment to safeguarding the environment and the health of our communities.”
More news:
Fidelity Life offer premium waivers to those affected by extreme weather
Partners Life 3-day Training Course starts 19 August
External Reporting Board hold Sandbox Session for Assurance Practitioners
ANZ introduces behavioural biometrics collection, an anti-scam measure
Five strategies for advisers to navigate a high-rate environment