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.
Research and website upgrades: what you need to know
QPR Database V16 has been released!
Our Research team have made some monstrously good updates to the QPR database recently.
QPR Database V16 has been released!
Our Research team have made some monstrously good updates to the QPR database recently. If you’ve noticed we’re running a bit slower than usual, please refresh your page and scroll down to ensure that you’re on our latest version – QUOTE ENGINE V.3.0 B1 | QPR V.16.0 | WEB V4.6.0
Our latest updates to Researchmonster include:
– Research for the following insurers are now available to include in your comparison:
o OneChoice:
· Life, Trauma (Accelerated), and TPD (Any Occupation Accelerated)
o Booster
· Super Simple Life
o Chubb Life & Living (replaces LifeOne in the main quote flow, however, can still be accessed via Standalone Head to Head)
· Life, and Trauma (Standalone)
o NZ Seniors
· Term Life
o Greenwich
· QuickCover Life
These changes have led to an update of our Product Map, click here to download the most recent version.
– Policy document update for Unimed Hospital Select effective 1 August 2024.
o Rating changes applied to:
· Loyalty Benefits, Non-Surgical Benefits, Child Features, and Exclusions
– Policy document updates for:
· AA Health
· AA Life
· ANZ Life & Living
· SBS (Term Life)
– Reviews:
o Based on adviser feedback, we have recently updated the Extras and Options on Income and Mortgage selections on Quotemonster:
· Fidelity Life’s Extras package now includes Specified Medical Conditions, Specific Injury Benefit, Death Benefit, and TPD
· Partners Life Options package now includes Injury Benefit, and Trauma Benefit
o Trauma remediation: sub-items in Paralysis, amount score in Financial Planning & Legal Advice
o Medical remediation: sub-item in Physiotherapy (Accuro)
Recent Pricing Updates
We are now quoting the latest Unimed medical rates effective 1 August.
Standalone Head to Head is a powerful tool subscribers can use to:
– Compare legacy products for replacement business
– Compare products from the same provider; e.g., AIA Critical Conditions vs Progressive Care
– Compare different product sets; e.g., Severe Trauma vs Comprehensive Trauma
– Quick head to head research comparisons
Please note this feature is still in Beta version so please reach out to us if you have any feedback that you would like us to consider in our next round of development.
Business Insurance is a powerful tool Advicemonster subscribers can use to quote, research, and run a needs analysis on for Life, Trauma, TPD and Key Person. We highly recommend joining us for our next online training session to learn more about the service, and as a thank you for attending we can offer a 14-day trial on your account for new users.
Upcoming training sessions:
– Introduction to Quotemonster
Quotemonster training session where we demonstrate the basic functions of our website, along with some handy tips and tricks along the way.
Friday, 30 August 2024 9:30 am-10:30 am
– Demystifying Advicemonster
Advicemonster training session where we demonstrate how to use our needs analysis and statement of advice (SOA) tools.
Friday, 30 August 2024 10:30 am-11:30 am
– Business Risk Research and SOAs with Quotemonster
Business risk pricing, research, and SOA demonstration.
Friday, 30 August 2024 12:00 pm-12:45 pm
– Research Deep Dive
Join our research team as we meet up online and have a discussion on a specific research topic.
If you have any questions or are interested in attending one of the above-mentioned sessions, please send us a request on info@quotemonster.co.nz
Happy Crunching!
Quotemonster at FSC24: Professional Advice Leaders Lunch
We're excited to share that we're sponsoring the Professional Advice Lunch session at the Financial Services Council New Zealand for the seventh year in a row.
We are delighted to sponsor the Professional Advice Lunch session at the Financial Services Council New Zealand for the seventh year in a row.
By invitation only: Professional Advice Leaders Lunch facilitated by our Director, Russell Hutchinson which includes a highly informative panel discussion with leaders from the life and health insurance sectors debating the future of genetics and insurance in New Zealand.
This session will be held on Wednesday 4 September, click here to view the full programme.
Quotemonster at FSC24: Consumer Resilience & Prosperity Conference
We're excited to share that we're one of the Gold sponsors at the upcoming FSC24.
We're excited to share that we're one of the Gold sponsors at the upcoming FSC24: Consumer Resilience & Prosperity Conference from 3 - 5 September, which brings together the financial services sector and beyond.
Come find our team in the exhibition area for a coffee or chat, we can't wait to see you there.
To learn more about FSC24, click here.
Underwriting Requirements Comparison
We have recently completed significant updates to our underwriting database that takes the latest from the published guidelines for each provider, these are now available in the ‘Underwriting’ tab on Quotemonster.
We have recently completed significant updates to our underwriting database that takes the latest from the published guidelines for each provider, these are now available in the ‘Underwriting’ tab on Quotemonster.
The Quotemonster Roadshow kicks off next Tuesday
Come and join our dream team Russell, Kelly and Aneel as they present cutting-edge insights and tools designed to enhance your business practices.
Come and join our dream team Russell, Kelly and Aneel as they present cutting-edge insights and tools designed to enhance your business practices.
Access new research: Check out 200+ updated products researched including: the latest business insurance research, group health insurance research, and legacy products
Stay safe with new Regtech: Discover how Checkmonster, Premium History Reports, and Company Reports can keep SOAs compliant
Expanded offer: Explore how to tackle new opportunities with business insurance SOAs and details on staying compliant while advising on existing business
What’s coming: We’re kiwi-owned and kiwi-based so it’s only natural we branch out and give you a sneak peek at Kiwimonster.
Our team kicks off in Taupo and then moves on to Tauranga and Hamilton to finish off the week.
This event is open to Advisers, Product Managers, BDMs and other industry personnel, so if you're interested in joining us please click here.
We can’t wait to see you there! 🦖
Partners Life joins the Quotemonster Roadshow!
We are thrilled to announce that Partners Life has become the latest sponsor of the upcoming Quotemonster roadshow. Partners Life has made it possible for us to bring Compliance Refinery on the road with us to offer you independent compliance advice on how to handle legacy policies when you find them. This marks a significant step forward in our mission to provide top-tier resources and support to advisers.
We are thrilled to announce that Partners Life has become the latest sponsor of the upcoming Quotemonster roadshow. Partners Life has made it possible for us to bring Compliance Refinery on the road with us to offer you independent compliance advice on how to handle legacy policies when you find them. This marks a significant step forward in our mission to provide top-tier resources and support to advisers.
We provide tools to help with hurdles you face with providing existing insurance advice, legacy products, limited advice and more. Providing the relevant documentation and disclosures for replacement business is essential and Quotemonster want to make this as easy as possible with our expanded range of existing business research, which now includes hundreds of legacy, group, and directly sold products.
What to Expect:
Legacy Research: enhanced resources and tools to help you stay up to date.
Expert Insights from Compliance Refinery: Gain confidence in providing sound advice to your clients through their expert guidance.
What are the risks: Know how to and what to provide in terms of documentation when providing advice on replacing, retaining, and disposing of products.
We are committed to continuous growth and enhancement in the tools and services we provide for advisers and are excited to have Partners Life’s sponsorship which allows us to continue to expand. The expertise of Compliance Refinery staff will fill this session with invaluable guidance on how to navigate advice on existing and replacement insurance.
Register for a town near you by clicking the links below:
Click here to see all venues and dates.
Research and website upgrades: what you need to know
Our Research team have made some monstrously good updates to the QPR database recently.
QPR Database V15.9 has been released!
Our Research team have made some monstrously good updates to the QPR database recently. If you’ve noticed we’re running a bit slower than usual, please refresh your page and scroll down to ensure that you’re on our latest version – QUOTE ENGINE V.3.0 B1 | QPR V.15.9 | WEB V4.6.0
Our latest updates to Researchmonster include:
- Policy document update for AIA Accidental Injury effective 26 April 2024
o Rating changes applied to:
· Collarbone Fracture, Hip Fracture, Jaw Fracture, Pelvis Fracture, Shoulder Fracture, Skull Fracture, Vertebrae Fracture, Loss of Thumb and Index Finger, Loss of Digits, Fingers and Toes, Inflation Adjustment, and Exclusions
For further information on these changes, please click here.
- Policy document update for Fidelity Life Monthly Mortgage Repayment effective 20 June 2024
o Rating changes applied to:
· Offsets
For further information on these changes, please click here.
Policy document linked to:
o Partners Life personal and business effective 22 April 2024
- Reviews:
o Asteron Life’s Early Trauma Pricing and Research is now available in Business Trauma, simply select this option in your Product and Provider Settings
o Trauma: sub-item remediation to Special Events (ASB), Benefit Payment (Asteron Life), Bowel Disease (MAS), and Survival Definition
o Life: sub-item remediation to Upgrade Policy Wording (nib)
o Income and Mortgage Protection: item remediation for Reduction in Wait Period (Asteron Life)
o Key Person: sub-item remediation for Benefit Payment Criteria (Asteron Life)
Recent Pricing Updates
We are now quoting the latest Southern Cross and nib medical rates effective 1 July.
Standalone Head to Head is a powerful tool subscribers can use to:
- Compare legacy products for replacement business
- Compare products from the same provider; e.g., AIA Critical Conditions vs Progressive Care
- Compare different product sets; e.g., Severe Trauma vs Comprehensive Trauma
- Quick head to head research comparisons
Please note this feature is still in Beta version so please reach out to us if you have any feedback that you would like us to consider in our next round of development.
Business Insurance is a powerful tool Advicemonster subscribers can use to quote, research, and run a needs analysis on for Life, Trauma, TPD and Key Person. We highly recommend joining us for our next online training session to learn more about the service, and as a thank you for attending we can offer a 14-day trial on your account for new users.
Upcoming training sessions:
- Introduction to Quotemonster
Quotemonster training session where we demonstrate the basic functions of our website, along with some handy tips and tricks along the way.
Friday, 26 July 2024 9:30 am-10:30 am
- Demystifying Advicemonster
Advicemonster training session where we demonstrate how to use our needs analysis and statement of advice (SOA) tools.
Friday, 26 July 2024 10:30 am-11:30 am
- Business Risk Research and SOAs with Quotemonster
Business risk pricing, research, and SOA demonstration.
Friday, 26 July 2024 12:00 pm-12:45 pm
If you have any questions or are interested in attending one of the above-mentioned sessions, please send us a request on info@quotemonster.co.nz
Happy Crunching!
Quotemonster Information Security Bulletin – Training in Privacy Principles
Tackling the leading cause of privacy breaches is simple…but not easy. In a recent team meeting, we had an interactive discussion about the potential breaches that could occur over email.
Tackling the leading cause of privacy breaches is simple…but not easy. In a recent team meeting, we had an interactive discussion about the potential breaches that could occur over email. We chose to highlight this topic because for most people in our industry, email is the preferred form of communication, and with no surprises, can be the leading cause of privacy breaches due to human error.
Email communications are a feature of our daily operations, facilitating the exchange of ideas, proposals, and responses to service queries. A significant vulnerability stems from misaddressed emails. This seemingly small error can lead to big risks, compromising personal and client data integrity. Although we rarely handle sensitive client data (most comparisons can be done on our system with quite limited information, much of which is public) we do sometimes handle sensitive adviser data.
A misaddressed email might seem like a simple typo or a momentary lapse, but its consequences can be far-reaching, causing the sharing of sensitive information, which might constitute a notifiable breach, and associated reputational damage.
To address this issue, we focused on training, sending delayed emails, good practices (such as composing with no recipients, only adding those later after checking) and double-checking recipients when we have attached documents. We also regularly use more structured forms of data sharing – such as sharing a file through file sharing systems which have enhanced security structures. In some instances, the message recall button can be used to delete or replace a message, but only works if the message hasn’t been read.
We are pleased to advise that in our thirteen years of business, we have never had any breaches, however as our organisation (and the number of hackers) grow, we are committed to training staff about the reporting procedure if this did occur.
Want to know more?
We are here to help! You can email us to ask for copies of past security bulletins. You can also review our outsource provider statement at the bottom right-hand corner of every page on the site at www.quotemonster.co.nz. More information about relevant certifications, policies, and procedures will be shared in future information security bulletins. We recommend you keep these with other compliance documents.
Please contact us on 09 480 6071 or at info@quotemonster.co.nz if you have any concerns or questions.
ISB 08-202407
Generate KiwiSaver Scheme joins the Quotemonster Roadshow!
We are thrilled to announce that Generate KiwiSaver Scheme will be joining Quotemonster on our upcoming roadshow! This collaboration brings a fantastic opportunity for advisers to gain valuable insights about the benefits of offering KiwiSaver advice to your clients.
We are thrilled to announce that Generate KiwiSaver Scheme will be joining Quotemonster on our upcoming roadshow! This collaboration brings a fantastic opportunity for advisers to gain valuable insights about the benefits of offering KiwiSaver advice to your clients.
Learn more about how KiwiSaver works, understand its long-term value, and address any concerns or challenges you may have. Here's a glimpse of what to expect.
Why provide KiwiSaver advice?
Generate will share compelling reasons why advisers should consider offering KiwiSaver advice as a critical part of their advisory services. They will demonstrate how KiwiSaver advice can be a cornerstone of a robust financial plan, offering benefits that extend far beyond retirement savings.
Myth busting: Overcoming challenges
Advisers often encounter various myths and misconceptions that can act as hurdles when providing KiwiSaver advice. Generate will address these challenges head-on and explain how they can help you provide KiwiSaver advice seamlessly while meeting your advice obligations.
Compare KiwiSaver providers
We are excited to give you a sneak peek at our newest service – Kiwimonster! You won’t want to miss this.
Join us on the Roadshow!
Click on the links below to register for your town:
Click here to see all venues and dates.
The issuer is Generate Investment Management Ltd. A copy of the Product Disclosure Statement and advertising disclosures are available at generatekiwisaver.co.nz/disclosures.
Recent rate changes on Quotemonster
We are pleased to confirm that the rate changes to nib and Southern Cross, effective 1 July 2024 are live on Quotemonster.
Dear Quotemonster users,
We are pleased to confirm that the following rate changes are live on Quotemonster effective 1 July 2024.
nib Ultimate Health Max, and the Specialists and Test option
Please note no changes were made to Ultimate Health, GP and Prescriptions or Dental and Optical Options, click here to learn more about nib’s quarterly premium review.
Southern Cross Wellbeing One and Two
Please note no changes were made to the GP and Prescriptions or Dental and Optical Options.
If you have any questions or comments on these changes please reach out to us on info@quotemonster.co.nz
Happy Crunching!
