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.
What does a business version of the healthy futures report mean?
Southern Cross’s business edition of the 2024 Healthy Futures Report focuses on employee health and wellbeing.
We took a look at Southern Cross’s business edition of the 2024 Healthy Futures Report, which focuses on employee health and wellbeing. There are clear links between wealth and health, as the old saying has it. Whether one causes the other and in which direction the arrow of causality points is unexplored. We think it’s probably more complicated than this simple pairing of factors, although if someone becomes wealthy, they often become healthier. Likewise, if someone has the misfortune to become chronically ill, they usually get poorer. But these two are probably joined by other factors which may also have some power to affect outcomes – like education while young, health while a child, and current environment.
What employers can do to help is limited – but is appreciated by staff. At Quality Product Research Limited we offer seven of the eleven key suggestions made (soon to be expanded to eight) – we like that we can do that – but people use or do not use them pretty much as they please.
Key takeaways for us from the survey results:
89% of respondents said it was important to them to work for a company that supports the health and wellbeing of their staff.
55% of respondents’ employers were doing well in supporting their employees.
The top ten initiatives employers could invest in were wellbeing leave (36%), lunch or break room (29%), flu vaccinations (26%), healthy food options (25%), activities promoting good mental health (23%), workplace massage (23%), Employee Assistance Programme (22%), health assessments (21%), subsidised membership to off-site facilities (21%) and stress management programmes (20%).
88% of employees think having a good work-life balance is important, with a third considering taking steps to improve their work-life balance.
Making use of flexible working hours (43%) and switching off from work when finished for the day (43%) were the most common means of managing work-life balance. Conversely, having a high work load (60%), financial pressures (40%) and not having flexible working hours (40%) were cited as most commonly as reasons for poor work-life balance.
51% of workplaces offer flexible working arrangements, down from 54% in 2022; 60% of employees make use of flexible working hours most weeks and an additional 26% utilise it sometimes.
Only 45% of kiwis rate themselves as happy with their financial situation; 91% cite cost of living as one of their top concerns and 58% worry about not having enough money to support themselves or their families.
84% of New Zealanders are concerned about not having good, affordable access to healthcare, up 8% from 2022.
Kiwis don’t feel they are getting enough sleep (60%) or exercise (62%).
New Zealanders without health insurance were more likely to be less happy with their health, financial situation, mental wellbeing, fitness levels, weight of themselves and their children, exercised less on average and were more likely to be stressed.
Southern Cross highlight a series of initiatives workplaces could take to improve employee wellbeing, including:
offering education on stress management and financial management;
offering free fruit or healthy food in breakrooms;
encouraging employees to make use of flexible working if it’s offered;
offering health assessments;
educating employees on the importance of flu vaccinations;
offer opportunities for physical exercise, through work place team sports, sports day or subsidies for gyms or exercise equipment;
encouraging employees to take their annual leave;
training leaders to identify those at risk of burn-out;
offering wellbeing leave;
providing employee assistance programmes and educating employees on what it is and hot to use it;
offering subsidised health insurance.
1,463 employees were surveyed for this report in March 2024.
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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.
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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%).
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AIA appoint new National Sales Manager, ASB
AIA have appointed Nick Brunner to the role of National Sales Manager, ASB.
AIA have appointed Nick Brunner to the role of National Sales Manager, ASB. Nick was previously the Strategic Accounts Business Development Manager at AIA NZ and has held a variety of roles over the 11 years he has worked for AIA.
AIA NZ Chief Partnership Distribution Officer Sharron Botica said
“We are incredibly proud to promote Nick into National Sales Manager, ASB. We have a long-term distribution partnership with ASB, and this role plays an important part in supporting the ASB team.
Nick’s experience within the insurance industry and proven track record of achieving excellent outcomes for AIA NZ's distribution partners makes him a fantastic fit.”
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Eating for gut health
Our understanding of how our gut microbiome works is still growing, but we know now that it can influence so many factors that impact our health - everything from weight, cholesterol and mental health to sleep and chronic diseases.
It seems every time you read the newspaper these days there’s something new about gut health. Our understanding of how our gut microbiome works is still growing, but we know now that it can influence so many factors that impact our health - everything from weight, cholesterol and mental health to sleep and chronic diseases. The gut microbiome’s resume includes making vitamins, hormones, chemical messengers and amino acids, not to mention communicating with other vital organs including your brain, liver and heart. It’s so important that it’s earned the nickname the ‘second brain’. What we eat directly influences the composition of micro-organisms inside our gut. So, what should we be feeding it?
Dr Saliha Mahmood-Ahmed, a gastroenterologist in the UK, gives us tips on how to eat for gut health, including lots of prebiotics (fruits, vegetables, nuts, seeds, wholegrains, legumes and pulses, spices) and probiotics (fermented foods like live yoghurt, kombucha, sauerkraut). As Michael Pollen has said, “Eat food. Not too much. Mostly plants.” Dr Mahmood-Ahmed would like to see fruit and vegetables being prescribed to patients, as “long-term, that is going to be cheaper than a lot of the medication we are prescribing people.”
As an example of a gut nourishing diet, Professor Barbara Ryan, a consultant gastroenterologist, has written about what she eats in a typical day to keep her gut healthy.
In New Zealand, researchers have recently published findings that suggest how compounds derived from fruit and vegetables can positively influence gut health.
nib release their 2023 State of the Nation Parenting Survey
nib have released their 2023 State of the Nation Parenting Survey, which has found parental concern for children’s mental health has skyrocketed and shows just how severely the current cost of living crisis is affecting families. The survey canvassed the views of 1,206 parents, step-parents and guardians across NZ in June 2023.
Some of the key findings include:
46% of all parents say their biggest worry for their children is the future state of their mental health (up from 40% in 2022).
57% say they are worried about their children’s current mental health.
49% of parents say they are concerned about their child’s physical health (which increases to 59% of Māori parents).
Parents reported the top three physical health concerns impacting their children as sleeping problems (34%), behavioural issues like tantrums, problematic eating and bullying (28%) and diet and exercise (25%).
46% of parents have health insurance (up from 44% in 2022), with 64% having made a claim. Key reasons for taking up private health insurance were peace of mind (52%), quicker access to health services (48%) and confidence they can access health services (48%).
31% of parents are unable to access the support they need to address their child's health concerns.
The survey found that almost all kiwi parents were facing financial stress (93% of households).
49% of parents said financial uncertainty is the main source of household stress (up from 41% in 2022 and 35% in 2021).
66% of parents’ top concern for their kids’ future is cost of living.
19% of parents have gone without essentials such as petrol, heating or skipping meals over the last year.
Food choices are being impacted by increasing financial pressures, with 52% of parents saying they are eating less or differently; 23% keeping grocery spend the same but eating less; 51% eating less fresh vegetables; and 40% eating more processed foods.
Parents have said that increasing costs are negatively affecting their relationships and social lives with 31% reporting a negative impact on their relationship with their partner, 42% having their social lives and connection to friends negatively affected and 25% experiencing a negative impact on the amount of time spent with their children.
14% of families are choosing to delay having more children.
13% of families’ main caregiver is needing to return to work.
Nathan Wallis, nib’s resident parenting expert and neuroscience educator has some tips for families doing it tough right now.
“Parents are under increasing financial pressure and many feel like they don’t have the time, energy or resources to care for their kids and look after themselves but it’s really important that parents find ways to look after their own wellbeing”.
“It’s really important that parents look after their own mental and physical health so that they can show up for their kids. Proactively looking after your own health and wellbeing also has the added benefit of role modelling good behaviours to your kids. When parents role model healthy eating habits and exercise their kids tend to follow”.
“It might be as simple as coming together for a family meal or taking the kids for a walk or kick a ball around at the park. These healthy habits are great ways to bond with your kids and set them up for success”.
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FSC release Money & You: Young People and the Cost of Living report
The Financial Services Council (FSC) have released ‘Money & You: Young People and the Cost of Living’ report. The report found that Gen Z and millennials had lower levels of financial wellbeing, financial literacy and financial confidence than older respondents. Some of the key findings from the report include:
Mental health and wellbeing is the number one health concern for both Gen Z (78%) and millennials (52%), with nutrition coming in second place and oral/dental health coming in third place.
61% of Gen Z and 52% of millennials worry about money daily or weekly, compared to only 29% of baby boomers.
Buy now, pay later (BNPL) and personal loans are more likely to cause Gen Z and millennials issues than other age ranges.
Only 42% of Gen Z and 51% of millennials would be able to access $5,000 in a time of emergency without going into debt.
41% of Gen Z and 58% of millennials feel very or somewhat confident about planning for their retirement despite 74% of Gen Z and 61% of millennials not having calculated how much money they need in retirement. 45% are contributing the minimum 3% to their KiwiSaver.
52% of Gen Z and 72% of millennials feel very or somewhat confident about choosing an insurance policy. 28% have life insurance, 13% have income protection insurance, 31% have health insurance, 7% have total and permanent disablement insurance and 11% have trauma or critical illness insurance.
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AIA launches online adviser onboarding application
AIA NZ has launched AIA Adviser Onboarding, an online application for advisers that want to distribute AIA products. AIA Adviser Onboarding provides a pathway into the AIAHub portal and is a 100% digital experience. Benefits of the new system include:
· quicker processing times;
· reduced manual interventions and handovers;
· automated workflow, identity and due diligence checks which allows advisers to get started on mandatory learning in the AIAHub while their applications are in progress;
· advisers being able to upload education and professional development certifications into AIAHub once they submit their application; and
· ease of tracking applications.
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Ultra-Processed Foods and their negative impact on health
Ultra-processed foods (UPFs) are getting a (deservedly) bad rap. Often high in fats, sugar and/or salt, they are energy-dense and nutrient-poor. They have generally undergone intense processes (like high-temperature extrusion or hydrogenation) and usually contain food additives and/or industrial ingredients like colours, artificial flavours, emulsifiers and preservatives. If you don’t recognise some of the ingredients on the label as food, then it’s likely to be an UPF. They are manufactured to be cheap, convenient and have a long shelf life.
They’re ubiquitous in our food chains. Walk the aisles of your local supermarket and so much of what is on the shelves can be considered a UPF. They can be foods mistakenly considered healthy (flavoured yoghurts, cereals) to products we all know aren’t good for us (here’s looking at you, fizzy drinks and frozen pizza). Some estimates have found more than half our diet is now composed of UPFs.
During a cost of living crisis, UPFs can often be a cheap, quick way of filling bellies – not everyone can afford to avoid them or has the time to cook meals from scratch every day.
So why should we limit our intake of UPFs?
In a 2020 review of 43 studies on UPF consumption and health outcomes, 37 studies found at least one adverse health outcome. There’s increasing evidence linking UPF intake and chronic conditions, in particular obesity, but also cancer and depressive symptoms. Studies have found that people who consume more UPFs have higher risks of cardiovascular disease, coronary heart disease, and cerebrovascular disease. Studies following large groups have worrying conclusions
2019 BMJ study of more than 105,000 people followed for five years found that for every 10% increase in the amount of ultra-processed foods participants ate, their risk of heart attack or stroke went up by 12%. And another 2019 BMJ study, this one involving almost 20,000 people followed for 10 years on average, found that participants who ate more than four servings of ultra-processed foods per day had a 62% higher risk of dying during the study (from any cause) compared with those who ate two servings per day.
There’s evidence that UPFs are very addictive. They’re engineered to be hyper-palatable so you want to eat more of them. Vast amounts of money are spent by food manufacturers, fine-tuning formulations to find the best taste. Research has found some UPFs can elicit cravings, loss of control and an inability to cut back. There’s also increasing evidence that a diet high in UPFs leads to increased energy intake and weight gain.
Even the packaging can be a concern, with one study finding higher consumers of UPF had higher urinary concentrations of phthalates and bisphenols that may have migrated from the food packaging.
With UPFs being compared to other public health crises like tobacco and opioids, some groups are calling for public health interventions that go beyond education, saying that UPFs meet the criteria requiring regulation – abuse, toxicity, ubiquity and externalities (how does your consumption affect me?).
My pick is we’re going to start seeing more backlash against UPFs as more research showing how bad they are for us comes out.
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Registrations open for Partners Life’s 3-day New Adviser Training Course
Partners Life have created a New Adviser Training Course to support and encourage those new to the industry. The three-day course runs from 21 – 23 August and will help ensure advisers are better positioned to discuss the types of interruptions to lifestyle clients might encounter, the corresponding financial impact and the types of products that best mitigate those risks.
The eligibility criteria are:
• Level 5 qualified or near completion
• Less than 12 months industry experience
• Registered on the Financial Services Provider Register (FSPR)
Those on the course will be provided with pre-requisite eLearning modules to complete prior to the course starting.
A full schedule of the three days can be found here. You can register to attend here, registrations close 31 July.
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