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.
More news:
Changes to Partners Life’s My Underwriting Manager platform
Jon-Paul Hale talks about CPI & income protection claims
Resonate 2024: Navigating Innovation event 7 November
Amanda Bridge has joined Apex Advice as Adviser Manager
NZ banks begin rollout of the confirmation of payments service from November 2024
Centrix’s latest ‘Credit Indicator Report' finds 461,000 people are behind on their payments
The Monetary Policy Committee cut the Official Cash Rate to 4.75%
BNZ has launched a new security feature aimed at combating online scams
Upcoming training sessions
We are hosting online training sessions on Researchmonster, Advicemonster and Business Risk/Research on a regular basis, we invite you and your team to join us if you’re interested in learning more about these new features.
We are hosting online training sessions on Researchmonster, Advicemonster and Business Risk/Research on a regular basis, we invite you and your team to join us if you’re interested in learning more about these new features.
Our next sessions will be:
Introduction to Quotemonster – Wednesday, 30 October 2024 9:30 am-10:30 am
In this session, we will demonstrate the basic functions of our website, along with some handy tips and tricks along the way.
Demystifying Advicemonster - Tuesday, 29 October 2024 9:30 am-10:30 am
In this session Aneel Ravji, our AdviceTech Lead, will demonstrate how to use our needs analysis and statement of advice (SOA) tools.
Business Risk Research and SOAs with Quotemonster – Tuesday, 29 October 2024 11:30 am-12:15 pm
In this session, Aneel will demonstrate how to use our business risk pricing, research, and SOA functionality.
If you would like to join either of these sessions, please email your request to info@quotemonster.co.nz
Happy Crunching!
Website upgrades: what you need to know – v4.6.2
Our IT Development team have been working hard to improve the services that we offer our advisers as well as improving user experience.
Our IT Development team have been working hard to improve the services that we offer our advisers as well as improving user experience.
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 V.4.6.2
Here are the changes that we’ve made:
Researchmonster updates:
Pricing and research for Chubb Life’s Continuous Trauma option is now available, the benefit allows customers to retain their Trauma Cover post-claim, providing continuous coverage up to a maximum of 4 times the Trauma Cover sum insured. This supports customers to retain their Trauma Cover for future unrelated conditions they may get, providing financial support for treatment and other costs.
To select this option on Quotemonster, click Instant Trauma Buyback in your Advanced Options.
Chubb Life also has also released a range of enhancements effective Thursday, 26 September which we are working to release over the next few weeks, from an early review by our research team, these enhancements will have low impact on weighting, to learn more, click here.
Expiry Age is now included in our policy wording reports, to include these in your presentation to clients.
- Click through to Research
- Select a Benefit (e.g. Trauma Standalone)
- Select an item (e.g. Heart Attack) which generates a pop up with the policy wording for each insurer
- Click Print, then Download to generate a PDF copy, which now includes Expiry Age
Advicemonster updates:
Advicemonster users will notice two logos at the top left of their screen, one labelled Quotemonster and the other, Businessmonster (how snazzy does Crunchy look with his tie and briefcase!). Quotemonster brings your recently saved personal quotes to hand, while Businessmonster shows business quotes, simply click to change between them as required.
Training sessions:
We are hosting online training sessions on Researchmonster and Advicemonster on a regular basis and invite you and your team to join us if you’re interested in learning more about these new features.
Our next sessions will be:
Introduction to Quotemonster – Wednesday, 16 October 2024 9:30 am-10:30 am
In this session, we will demonstrate the basic functions of our website, along with some handy tips and tricks along the way.
Demystifying Advicemonster - Wednesday, 16 October 2024 11:00 am-12:00 pm
In this session Aneel Ravji, our AdviceTech Lead, will demonstrate how to use our needs analysis and statement of advice (SOA) tools.
Business Risk Research and SOAs with Quotemonster – Thursday, 17 October 2024 9:30 am-10:15 am
In this session, Aneel will demonstrate how to use our business risk pricing, research, and SOA functionality.
If you would like to join any of these sessions, please email your request to info@quotemonster.co.nz
Happy Crunching!
nib rates are now live!
We are pleased to confirm that the premium changes for nib, effective 1 October 2024 are live on Quotemonster.
We are pleased to confirm that the premium changes for nib, effective 1 October 2024 are live on Quotemonster.
There was a rate increase for Ultimate Health, Ultimate Health Max and the Specialist option, no changes to GP or Dental, Optical, and Therapeutic options.
Happy Crunching!
Website upgrade: Southern Cross Healthy Lifestyle Reward
Another upgrade we’ve recently made to Quotemonster is how users can select Southern Cross’s Healthy Lifestyle Reward. This was reviewed following adviser feedback and shows how important it is to let us know if there is something we can do to increase your user experience.
Another upgrade we’ve recently made to Quotemonster is how users can select Southern Cross’s Healthy Lifestyle Reward. This was reviewed following adviser feedback and shows how important it is to let us know if there is something we can do to increase your user experience.
What is the Healthy Lifestyle (HLR) Reward?
The Healthy Lifestyle Reward is a 10% discount on premium for new members who meet certain healthy lifestyle criteria and applies for up to two years.
(i) To qualify the client must be aged 21 or older and answer yes to:
Are you a non-smoker?
Do you eat at least five servings of fruit and vegetables a day?
Do you do 30 minutes of moderate physical activity on most of the days of the week?
Women: do you drink 2 or less glasses of alcohol a day?
Men: do you drink 3 or less glasses of alcohol a day?
How to include the HLR on Quotemonster
Add in your client and health benefit details as normal, then click the company’s logo in your Result window, ensure Healthy Lifestyle Reward is selected, click Re-Crunch and your premium for Southern Cross will now include the 10% discount.
If you have any questions or feedback on this updated feature, please reach out to us on info@quotemonster.co.nz
Happy Crunching!
Te Wiki o Te Reo Māori - Māori Language Week
In light of Māori Language week, which runs from 16th to 23rd September this year, we’d like to give a shout out to Accuro for including this gem in their SmartCare and SmartCare+ policy document.
In light of Māori Language week, which runs from 16th to 23rd September this year, we’d like to give a shout out to Accuro for including this gem in their SmartCare and SmartCare+ policy document.
“whāngai means a child from your extended whānau who you raise or bring up within your family and who has been accepted as a participant in the member’s plan. A whāngai is considered a dependant under this policy.”
We spotted this when reviewing their updated policy document that launched at the start of this month, the term is used in sections on dependents, well done to Accuro for bringing te reo Māori into the spotlight and acknowledging our country’s unique history.
Basic te reo you could try to use today:
‘Kia ora’ is a greeting as well as a general expression of appreciation. In Māori, ‘tēnā koe’ is a formal greeting to one person, ‘tēnā kōrua’ is a formal greeting to two people, and ‘tēnā koutou’ is a formal greeting to many.
If you’re interested in learning more about Māori Language week, National Today does a great job of breaking it down, click here to read the full article.
Quality Product Research: Research Advisory Board – Central
We recently held our first Research Advisory Board meeting of the year with our Central Representatives and as usual received a lot of feedback to bring back to our team.
We recently held our first Research Advisory Board meeting of the year with our Central Representatives and as usual received a lot of feedback to bring back to our team.
Independent Chair: Tony Dench
Insurer Observers: Amanda Harlen (Asteron Life), Helena Harbrow (Partners Life)
Board members: Samuel Rees-Thomas, Louise Grinstead, Joshua Logan (stepping down)
QPR Representatives: Russell Hutchinson, Doreen Dutt
The research advisory board reviewed the following topics:
· Research report design, specifically a revamp of our Summary and Detailed Head-to-Head report to provide more details
· Allowing for more flexibility in how advisers can present reports.
· A review of our current trauma buyback options, we propose including an additional button, Buyback + Instant Buyback under the trauma Advanced Options and once selected, the best of the two scores will be quoted and displayed in the research.
· The proposed rating for non-PHARMAC, recently we created an infographic comparing non-PHARMAC medicines between providers and we will use this to revise the rating for this benefit within medical.
The feedback from our Research Advisory Board meetings has overall been very valuable to our research team and allows us to strengthen our research ratings when we gain an insight into the adviser perspective.
Since the meeting we have the news that Josh Logan is stepping aside from the role for the time being, we thank Josh for his service and look forward to inviting him back at some point in the future.
If you’re interested in providing feedback on any of the topics above, please reach out to our research team on info@quotemonster.co.nz or join us for our research deep dive scheduled for Thursday, 19 September 2024 11:30 am-12:30 pm.
We look forward to visiting our Southern team later this year.
For more information on our Research Advisory board please click here.
Upcoming training sessions
We are hosting online training sessions on Researchmonster and Advicemonster on a regular basis and invite you and your team to join us if you’re interested in learning more about these new features.
We are hosting online training sessions on Researchmonster and Advicemonster on a regular basis and invite you and your team to join us if you’re interested in learning more about these new features.
Our next sessions will be:
Introduction to Quotemonster – Monday, 16 September 2024 11:00 am-12:00 pm
In this session, we will demonstrate the basic functions of our website, along with some handy tips and tricks along the way.
Demystifying Advicemonster - Monday, 16 September 2024 2:00 pm-3:00 pm
In this session Aneel Ravji, our AdviceTech Lead, will demonstrate how to use our needs analysis and statement of advice (SOA) tools.
Business Risk Research and SOAs with Quotemonster – Tuesday, 17 September 2024 10:00 am-10:45 am
In this session, Aneel will demonstrate how to use our business risk pricing, research, and SOA functionality.
Checkmonster Demonstration - Tuesday, 17 September 2024 10:45 am-11:00 am
In this short session, Aneel will demonstrate how to use our newly released Checkmonster feature.
Research Deep Dive - Thursday, 19 September 2024 11:30 am-12:30 pm
Join our research team for a research deep dive meeting, subjects for the coming session are:
the challenges of comparison,
results of our research advisory board meeting consultation on non-Pharmac medicines coverage ratings,
new head-to-head report designs, and
the forthcoming IP research review.
If you would like to join either of these sessions, please email your request to info@quotemonster.co.nz
Happy Crunching!
Website upgrades: what you need to know
Our IT Development team have been working hard to improve the services that we offer our advisers as well as improving user experience.
Our IT Development team have been working hard to improve the services that we offer our advisers as well as improving user experience.
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 V.4.6.1
Here are the changes that we’ve made:
Researchmonster updates:
The Compare Premium chart now shows the total premium and adjusts when you click the colour key to remove a benefit. If you do decide to remove a benefit entirely, don’t forget to head back to the benefit details, unselect and re-crunch to reflect this in your PDF research report.
The Blog feature will now take you to www.chatswood.co.nz, Chatswood serves the life and health insurance sector in New Zealand with market intelligence, data, and bespoke consulting services in conjunction with Quality Product Research Limited – a subsidiary that brings you Quotemonster.
Serious Trauma research is live on our normal quote flow and Standalone Head to Head, this includes Asteron Life’s Major Trauma, Partner’s Life Serious Trauma and AIA’s Progressive Care.
To quote this, simply select Accelerated or Standalone Trauma and click the Severe Trauma tickbox, you will need to split the amount between standard and severe to generate a quote for all three insurers.
If you’re interested in severe (and not standard) a handy tip is to enter in $1 to standard then the full amount for severe, however Asteron Life will drop off as they require a minimum sum insured of $5,000 for their standard trauma cover.
By splitting the cover amount, you can generate a quote that contains both AIAs’ Critical Conditions Cover and Progressive Care.
To get a comparison for AIA, ensure that your default trauma product is Critical Conditions, then when severe is selected, the comparison generated is split between Critical Conditions and Progressive Care.
This method does need more work in future and any feedback that you have can help us during the next stage of development, so please reach out to us with your thoughts.
Advicemonster updates:
A highly requested feature is now available for Advicemonster users, in our Business Insurance feature, users now have the ability to search for a company and pull through information from the New Zealand Business Register, this will be displayed in the Business Details section (further edits can be made) then shown in your Statement of Advice (SoA).
The following options are now available for quoting and research in Business Insurance:
- Business Events Increase Option
- Partial Disablement
Training sessions:
We are hosting online training sessions on Researchmonster and Advicemonster on a regular basis and invite you and your team to join us if you’re interested in learning more about these new features.
Our next sessions will be:
Introduction to Quotemonster – Monday, 16 September 2024 11:00 am-12:00 pm
In this session, we will demonstrate the basic functions of our website, along with some handy tips and tricks along the way.
Demystifying Advicemonster - Monday, 16 September 2024 2:00 pm-3:00 pm
In this session Aneel Ravji, our AdviceTech Lead, will demonstrate how to use our needs analysis and statement of advice (SOA) tools.
Business Risk Research and SOAs with Quotemonster – Tuesday, 17 September 2024 10:00 am-10:45 am
In this session, Aneel will demonstrate how to use our business risk pricing, research, and SOA functionality.
Checkmonster Demonstration - Tuesday, 17 September 2024 10:45 am-11:00 am
In this short session, Aneel will demonstrate how to use our newly released Checkmonster feature.
Research Deep Dive - Thursday, 19 September 2024 11:30 am-12:30 pm
Join our research team for a research deep dive meeting, subjects for the coming session are:
the challenges of comparison,
results of our research advisory board meeting consultation on non-Pharmac medicines coverage ratings,
new head-to-head report designs, and
the forthcoming IP research review.
If you would like to join either of these sessions, please email your request to info@quotemonster.co.nz
Happy Crunching!
Quotemonster Online Roadshow
If you missed us in person, please join us online as we show our cutting-edge insights and tools designed to enhance your business practices.
If you missed us in person, please join us online as we show our cutting-edge insights and tools designed to enhance your business practices.
What’s in it for you?
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.
Click here to register: https://events.teams.microsoft.com/event/f8dbd586-d563-4cc0-aadd-d17e9aebcdc1@2f1f15f2-0d74-4eba-9c8c-31bd5701c8d2
We look forward to seeing you there!
