Quality Product Research – Major Review: the updated research rating for Cardiac Arrest

Introduction

We were challenged by an insurer regarding our rating for Cardiac Arrest. Given the significant advances in modern medicine, it was an opportune time to conduct a major review of this item and evaluate how the definition of cardiac arrest has evolved in the market. Our conclusion is that claim criteria for this benefit have improved over the years, which can lead to better outcomes for customers.

Please find our proposed changes below.

Renaming Cardiac Arrest to Out of Hospital Cardiac Arrest.

Review Process

We began by notifying insurers and reinsurers of our intention to review this item. This included inviting them to share claims data and clarify how their definitions are applied to real claims, with appropriate references to their policy documents. We also shared a proposed rating with advisers during our research deep dive session earlier this year.

After gathering the necessary information, we updated our product database accordingly. The final rating was released in QPR v16.2 and is now live on Quotemonster.

Please note that while this document includes the proposed rating for comprehensive trauma cover, the updated rating has been applied across moderate, severe, and business covers.

Your feedback

We highly value your feedback on how these wordings are being applied to claims you may have encountered. Please email us at info@quotemonster.co.nz with details of any recent claims to help us refine our understanding, or alternatively please use the Adviser Claims Experience on Quotemonster to log your claims experience, a video on this feature can be found here.