QPR welcomes Omar!

Exciting news over at QPR! 

We have recently welcomed Omar Dayao who has filled the position of our new Research and Customer Service superstar. 

Omar has worked in various roles in the finance industry over the years and is a great addition to our diverse team. He will be working to help maintain our product comparison database as well as assisting with all your day-to-day queries.  

We are thrilled to have Omar join us and look forward to his growth and contribution to Quotemonster :)  


Quality Product Research: addition of specific injury insurance rating

Specific Injury Cover is of great benefit in circumstances where ACC or other insurance policies do not provide sufficient financial protection. Although it presents as a succinct product (or optional benefit), it offers a comprehensive injury cover at an affordable price. It may be the case that this product appeals only to a particular market niche, but we believe that its benefits and features are of considerable value and should therefore be included within our rated products’ suite.

We have a draft comparison of those insurers who offer this product but are yet to release this publicly, pending data to support our ratings.

We invite you to join us on this rating process as we greatly value your input and feedback on changes we make to our platform. We are looking at gaining further insight into this product and would really appreciate any data that you are able to share with us from experience. We are especially keen to gain a better understanding of:

  • The most claimed benefits within Specific Injury.
  • The most claimed fractures.
  • The features that are claimed more than once.

It would be of considerable assistance if you are able to provide us with relevant data and claims information.

Once we have received and reviewed all the feedback, relevant information and data from the Insurers we have communicated this to, we will publish a preliminary rating report for you to review.

Please note that at this stage, the rating framework we have formulated for Specific Injury Cover can change depending on the information we receive from those insurers who wish to participate in this exercise. The finalised ratings will subsequently be published and be available to view on Quotemonster.

If you're interested in being involved in this rating, have had a client with a claim, or are an expert in this field please email us on researcher@qpresearch.co.nz 

We look forward to your assistance and input with this rating exercise and thank you in advance for your participation and time.


Quotemonster training session - check out the new website!

We invite you to join our next training session with Kelly, our National Partnerships Lead, which takes place on Monday, 23 May 2022 10:00 AM-11:00 AM. 

In this introductory session, we will go over the basics of using the website including: 

  • How to directly compare two insurers for replacement business (Head-to-Head) 
  • How to download our detailed comparison and client friendly benefit overview or heat map report
  • How to add banks and non-adviser companies to your Research comparison 
  • How to find older policy documents

...and you’ll get a look at our new website.

All Industry members are welcome to join this session so please register your interest by emailing us on info@quotemonster.co.nz

Please feel free to contact us if you're also interested in a 14-day Research trial!

Happy Crunching!


Quality Product Research: Medical – proposed rating for Product Flexibility

Introduction

Recently, we read an article on Risk Info NZ about Accuro removing their time restriction for members, and former members, who want to make a claim on their policy. This led to us to review if medical providers impose a time limit to their claims. Many insurers have reported that although this clause is present in their wording, they do not enforce it at claims time, however our stance is that we have to rate based on the policy document.     

If you would like to have a read of the article, please click here

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Your feedback

We value getting your feedback on how these wordings are being applied to claims you may be aware of. Please email us with details of any recent claims to help us update our understanding.

Doreen Dutt, Research Manager, Quality Product Research Limited, researcher@qpresearch.co.nz


Quotemonster update and more daily news

Quotemonster has gone through a major upgrade over the weekend, including the following changes:

  • Big improvements to Advicemonster: much more document layout and content control to make your SOA more yours than ever before
  • Ease of use improvements: new menu structure so it is easier to find what you want (including more than 900 old policy documents, plus funeral plan research and more)
  • Clearer to read text and layout: making it easier to view the research
  • Simpler back-end billing processes: if you subscribe you should notice very quick response on the credit card billing and invoicing process

The upgrade has taken some time, of course. We continually monitor the site and check for issues with the newly installed features, but if you think something is not right and want to bring it to our attention, please let us know using the help function on the site, email, or call. If you need something urgently and just want it now you can always click the button to go back to the old site as an interim measure.

Try out the new Quotemonster site at your usual link.

More daily news:

 


Reminder: Scheduled system upgrade!

A friendly reminder that Quotemonster will be offline on Saturday, 7 May 2022 from 7 pm to 10 pm for a major revamp. This means that when you login on Monday, you’ll see the monster take on a much cleaner and corporate look as well as adding some powerful new features. We would like to emphasize that the data is still being pulled through from the same Research and quoting engine, and all your settings will remain the same. If you have any comments or feedback, please feel free to send them through to info@quotemonster.co.nz and if you’re having any major issues our old monster site is still available for crunching and can be accessed by clicking “OldQM” (but only for the next 3 months).

Happy Crunching! :) 

QM picutre


Quality Product Research: Medical - proposed rating Grief & Funeral Support

Introduction

We have recently conducted a review on our Death/Funeral item within medical. To align with all our other benefits, we have renamed this item “Grief and Funeral Support.”

Item weightings

Amount score: how much would be paid as a percentage of our total estimated value of claims over the estimated typical policy life.

This is difficult to determine within medical as multiple claims for different benefits could be made during the life of a policy. To combat this, we have created a claims model which assumes that an insured person will hold their medical cover for approximately 12 years, during this period, they will make a total of $30,000 worth of claims (if you would like more details please feel free to ask us for a copy of the model). This is only an assumed amount for our model, based on a typical claim pattern for commonly claimed services. In reality, the amount could be less or more.

Frequency: how often the benefit would be paid.

Incidence: how likely the benefit is to be claimed.

Please see our table below for details figures listed by each provider. Should you wish to send us through any data that can help us to revise this model please feel free to email us.

Sub-items rating review

Please find our proposed definition re-rate below:

GriefYour feedback

We value getting your feedback on how these wordings are being applied to claims you may be aware of. Please email us with details of any recent claims to help us update our understanding.

Doreen Dutt, Research Manager, Quality Product Research Limited, researcher@qpresearch.co.nz


Quotemonster API updates

If you are thinking about data integrations with Quotemonster here is your update:

Call us on (09) 4892130 and set up a time to talk about which API is most suitable. As a reminder the options are:

  • Auto log-in API - available now
  • Remember this report API - available now
  • Full API - available soon

We also recommend that you try out the full new site before making a decision about which API is right for your development. To do that, call or email us.