Product comparison database upgrade

The research team worked tirelessly through the holidays—there is always more research work to do. Some highlights from their busy summer, while you were on break, include:

• Library Expansion:
  We now have over 4,000 policy documents in our library. We are confident that no one else has such a comprehensive collection. In addition, we have identified more than 300 old in-force policy types that are no longer sold, which we plan to incorporate into the library.

• Legacy Contracts:
  Before Christmas, we had rated 202 legacy contracts. While that might seem modest compared to the more than 4,000 documents in the library, let us explain: we prioritize legacy contracts with the largest number of existing members. For instance, a 50-year-old Temperance and General Mutual Assurance Society whole-of-life policy might have a few dozen current members, whereas older plans from major insurers such as BNZ Life or Westpac often have tens of thousands—sometimes over 100,000—members. Our carefully curated library now supports about 95% of the existing business research inquiries we receive. Additionally, over the last three weeks, we’ve added two dozen new legacy research evaluations.

• Dynamic Updates:
  A key advantage of our approach to legacy research is that we update ratings whenever there is a weighting change or product upgrade. Some services only provide the rating applicable when the product was last actively researched while on sale. This can lead to outdated insights, especially given the recent trend of blanket upgrades in existing business—particularly by medical insurers and specialist bancassurers acquired by mainstream life insurers.

• On-Sale Research Updates: version 16.3 now live
  We have upgraded our on-sale research database to version 16_3, which includes the following enhancements:

  • Trauma: Minor sub-item reviews for Major Organ Transplant, Early Onset Osteoporosis, Stroke, Coma, Aplastic Anaemia, Trauma Buyback, and Permanent Loss of Hearing.

  • Mortgage: Minor sub-item review for Offsets.

  • Life: Minor sub-item review for Inflation Adjustment.

  • Specific Injury: Minor sub-item review for Loss of Hearing.

  • Medical: Minor amount score review for GP Minor Surgery and Pregnancy.

If you’d like to learn more about the recent changes to our research ratings, please join us at our forthcoming research deep dive meeting. Details will be posted here on the blog as well as via a pop-up on the site.