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.

Kelly O 01/04/2025 Kelly O 01/04/2025

Fidelity Life celebrates its latest 20 Career connect graduates

Last week, Fidelity Life held a celebration to honour its latest 20 Career Connect graduates. Each graduate has successfully completed their Level 5 qualifications in life, disability, and health insurance.

Anna Devereux; Women in finance scholarship recipient (Dunedin)
Ashlee Cuttance (Dunedin)
Awhina Scott; Pounamu scholarship recipient (Christchurch)
Briar Evans (Auckland)
Caitlin Hayward (Morrinsville)
Christabel Bertie (Auckland)
Grace McIntyre; Rural scholarship recipient (Dunedin)
Harpreet Rehal (Auckland)
Jenny Silva; Kōwhai scholarship recipient (Queenstown)
Kim Forsythe (Invercargill)
Kirsty Gobbie (Auckland)
Leean Te (Auckland)
Marna Breetzke; Pāua scholarship recipient (Auckland)
Matthew Roxburgh (Dunedin)
Myja Gregory (Auckland)
Namrata Kumar (Auckland)
Shiwangni Mala (Auckland)
Sydnee Taylor; Toe Toe scholarship recipient (Christchurch)
Taylah Marr; Rāngi Po scholarship recipient (Christchurch)
Vanessa Jones-Dutton (New Plymouth)

This year, 95% of Career connect graduates were women, and a quarter of the group identifies as Māori or Pasifika.

Michelle Doyle, Head of Solutions said

"More than 60% of the graduates who asked for introductions to adviser businesses have already landed jobs, excited to start careers that help New Zealanders protect what matters most.”

Since its inception in 2023, Career connect has had more than 200 registrations for 70 course places, welcomed 47 students and helped almost 40 people gain their Level 5 qualifications in life, disability, and health insurance.

Submissions to be part of the 2025 intake of Career connect closed earlier this month with nearly 70 applications from a diverse group of candidates across various ages, genders, and cultural backgrounds.

More news:

Expressions of interest for Partners Life New Adviser Training Course open

The latest issue of ASSET features Katrina Church on FMA monitoring visits, Naomi Ballantyne discussing the year ahead for the life insurance industry and Russell Hutchinson on the challenges of insurance retention

mySolutions webinar 'Navigating the future ' 2 April

FSC webinar 'How financially resilient are Kiwis?' 29 April

Adviser refunds income protection premiums in FSCL dispute

Steve Wright considers issues posed by FSCL dispute

Study finds insurers rate inflation, recession, market volatility, geopolitical tensions and AI adoption as macroeconomic threats

Minister says country on track to have open banking operational by the end of the year, with regulations specific to the sector to be confirmed in the coming weeks

Kelly O 31/03/2025 Kelly O 31/03/2025

Chubb Life appoints new CFO

Chubb Life has appointed Jaco Grobbelaar as its chief financial officer.

Chubb Life has appointed Jaco Grobbelaar as its chief financial officer. Grobbelaar has more than 25 years of experience in the insurance and financial services sectors. Grobbelaar was most recently at Partners Life, where he led the finance function team across a range of activities to help strengthen organisational resilience and growth.

Chubb Life chief executive Gail Costa said

"Jaco has a strong track record of optimising financial planning and reporting processes, driving efficiency and successfully leading teams through change. I'm really looking forward to having Jaco on board and have every confidence that his expertise, experience and leadership will further strengthen our senior leadership team."

More news:

mySolutions roadshow 'Persistence: it's your Superpower' in May

Fidelity Life publish February turnaround times

Partners Life webinar 'Quote for Alteration Changes' 3 April

nib delay launch of Ultimate Life & Living Insurance suite

Southern Cross Healthcare looking for a People and Culture Business Partner

The FMA is looking for a Head of Deposit Taking

Advisers could offer business advice to clients with SMEs

Simon Papa assesses whether FMA’s “Outcomes-focused regulation” guide has resolved misgivings expressed by submitters

FMA proposal to cut 20-plus jobs amid cost-saving measures

Kelly O 21/03/2025 Kelly O 21/03/2025

Monsters in March off to a great start

We’ve kicked off our Monsters in March event series, thanks to the attendees, sponsors and speakers for making it happen.

We’ve kicked off our Monsters in March event series, holding the first session in Remuera on 18 March and the second session in Christchurch on 20 March. Thanks to the 150+ advisers that showed up to hear about personal insurance, business insurance or KiwiSaver advice. And thank you to all of our sponsors and speakers for making it happen.

Here’s a few photos from the events so far.

We’ll be holding a last on the North Shore in Auckland on 25 March – hope to see you there!

More news:

Fidelity Life will host a workshop at FANZ conference

mySolutions Member Benefits day is on 19 March

mySolutions webinar 'Artificial Intelligence: is it for you?' 26 March

Southern Cross Health Insurance appoint Russell Simpson Chief of Healthcare Partnerships

Registrations open for the Million Dollar Round Table’s Annual Meeting in Miami in June

Advisers originate about 70% of Kiwibank’s mortgages by volume

TAP are looking for a Senior .NET Core Developer

Kelly O 17/03/2025 Kelly O 17/03/2025

What’s the biggest health claim paid for a procedure?

The health insurance industry has been experiencing a time of rising medical costs, where both volume of claims and inflation have been increasing. We’ve taken a closer look at individual claims values that a few insurers have released recently.

nib regularly publish their top 5 health claims by month. RiskinfoNZ has an article collating historical nib’s top health claims by month here.

nib’s top health claims for January 2025

Treatment Cost Gender Age

Spinal surgery $101,000 Male 16

Cardiac surgery $85,000 Male 46

Cardiac surgery $56,000 Male 70

Cardiac surgery $54,000 Female 70

Digestive surgery $53,000 Male 72

nib’s top health claims for December 2024

Treatment Cost Gender Age

Cardiac surgery $103,000 Male 72

Cancer surgery $102,000 Male 77

Cardiac surgery $93,000 Male 80

Cardiac surgery $88,000 Male 76

Spinal surgery $87,000 Male 48

But these do not top the charts of what we are currently aware. Southern Cross’s most expensive surgical claims were $256,165 for a spinal fusion procedure and $127,191 for a breast reconstruction.

While Partners Life don’t release a similar monthly overview of their top claims, their ‘The story behind our claims’ slideshow highlights their largest single payouts since 2011. The most expensive claims paid out were a whopping $1.6 million+ for Total and Permanent Disability or Income cover; $2.9million +for Life cover; $3.2million + for Trauma cover and $982,000+ for Private Medical Cover.

While the majority of claims won’t cost anywhere near as much, what used to be ample caps of some older medical values don’t seem so rosy in light of recent inflation and surging claims costs. Yet we haven’t seen any insurers coming out and indexing claims caps. We think that’s wrong, and we’ll offer a score boost to the first insurer who offers indexed caps.

What types of claims have you heard of and how did they go? We would love to hear more from you, especially if you are a Quotemonster subscriber, through our adviser claims experience tool (check the side menu when you are next logged in).

More news:

mySolutions webinar 'What got you here, won't get you there' 19 March

Kelly O 06/03/2025 Kelly O 06/03/2025

Chubb Life New Zealand appoints new Chief Executive Officer

Paula ter Brake has been appointed Chief Executive Officer of Chubb Life New Zealand, effective 5 May, subject to regulatory approvals.

Paula ter Brake has been appointed Chief Executive Officer of Chubb Life New Zealand, effective 5 May, subject to regulatory approvals. Paula has 30 years of experience and the retail banking and insurance industries and was most recently Executive General Manager, Consumer Brands for IAG New Zealand.

Paul Brock, Board Chair at Chubb Life, said

“Paula’s proven track record in driving growth along with transforming large businesses will bring real value to our customers, partners and our people. She is recognised for her dynamic leadership style and success in driving strategic initiatives and will play a key role as we continue the growth and success of our business.”

More news:

Russell Hutchinson's outlook on the life and health market for 2025

mySolutions webinar 'Case Study - Client engagement and fact-finding process ' 12 March

Sophie Sargent joins Apex Advice as Operations Manager

The FMA is looking for a Senior Adviser, Media Relations

Paul Brownsey says there should be more downward pressure on KiwiSaver fees

Amy Florian says advisers’ relationships skills are more important than money management skills

Government announces healthcare boost

Kelly O 24/02/2025 Kelly O 24/02/2025

Key changes to Asteron Life team

Asteron Life have made a number of personnel changes following the recent acquisition by Resolution Life Australasia.

Asteron Life have made a number of personnel changes following the recent acquisition by Resolution Life Australasia. There have been three appointments to the Leadership Team - Kristy Redfern as Chief Risk Officer, Stefan Azzopardi as Chief Financial Officer and Catherine Henshall as interim Appointed Actuary.

Redfern joined in February 2025 and was previously General Counsel and Company Secretary for AIA Australia. Azzopardi will join in March 2025 and was most recently CEO of Donaldson Brown Insurance Brokers. An external search continues for the permanent Appointed Actuary position.

In addition, Scott Jenson has been appointed as Acting Executive Manager, Claims and Customer Solutions while the recruitment process for the permanent role is active.

Grant Willis, Chief Executive Officer Asteron Life New Zealand, said

“Kristy, Stefan and Catherine bring a wealth of experience that will bolster the strength and expertise of our existing leadership team, and it is great to see Scott step up to the acting role. I am very much looking forward to their input as we continue to grow our incredible business and transition into one of New Zealand’s largest life insurance businesses.”

More news:

mySolutions webinar 'Stuck to Sorted' 26 February

Kelly O 13/02/2025 Kelly O 13/02/2025

EY release global insurance outlook for 2025

EY have released their global insurance outlook for 2025, with a range of insights applicable to the health and life insurance sectors.

EY have released their global insurance outlook for 2025. One of they key takeaways for life and health insurers is the growing global retirement savings gap. Longer lifespans and aging populations are set to increase the gap from US$106 trillion in 2022 to US$483 trillion in 2025, with EY predicting increased demand for financial estate planning services, life insurance, health insurance and wellness programmes.

AI is shifting business practices globally, with 99% of insurers already investing in GenAI or making plans to invest. EY posit that as data and tech become so much more important, they must be baked into front line operations and decision-making processes. More than half of workers believe GenAI will positively impact their productivity and ability to do high-value work. EY highlight the importance of having staff with AI skills and fostering a culture of innovation and adaptability to drive productivity gains and increase employee engagement.

EY predict a rise in personalised offerings, driven in part by advances in AI helping with tailored messaging, targeted recommendations, more accurate pricing and faster underwriting. EY suggest that product innovation will prioritise features (such as preventative services) that drive outcomes customers desire (e.g. healthier lifestyles), a la AIA’s vitality programme. They also highlight that importance of partnerships and new channels to gain access to new customer segments.

Southern Cross creates new role to oversee hospital network

Southern Cross Healthcare has announced Roger Cronin as the new chief operating officer responsible for the organisation’s 10 wholly owned hospitals.

Southern Cross Healthcare has announced Roger Cronin as the new chief operating officer responsible for the organisation’s 10 wholly owned hospitals. The new role’s focus is on overseeing the operational performance of the hospitals and acting as a strategic link between the hospitals and the national support office.

Cronin was recently CEO of PresMed Australia, a private healthcare provider specialising in surgical day-stay procedures for ophthalmology and ENT patients. Cronin has held a variety of leadership roles in major public hospitals and has worked with the New South Wales Ministry of Health. Cronin will commence his new role in late November.

More news:

Westpac campaign highlights dangers of impulse buying and debt accumulation

mySolutions webinar 'Panel Discussion' 4 December

The IFSO Scheme welcomes changes introduced by the Contracts of Insurance Act 2024

Government announces funding for 50 new senior doctors, plus nurses and other health professionals

The RBNZ has cut the Official Cash Rate, taking it from 4.75% to 4.25%

Kelly O 22/11/2024 Kelly O 22/11/2024

Fidelity Life announce product enhancements and digital, service, and retention initiatives

At Fidelity Life’s Engage 2024 conference, Fidelity Life announced a range of product enhancements, digital, service and retention initiatives and other news.

Trauma and Life covers: The entry eligibility for the Inbuilt Child’s Trauma benefit has been reduced from two years to three months, allowing more families to receive early protection. A new, separate benefit specifically for newborns facing trauma has also been introduced. Fidelity Life will also trail a premium discount for defined exclusions on trauma covers in the coming months.
Condition Definitions: Refinements have been made for clarity, and Terminal Illness has been introduced as a defined condition across the trauma range, including Child's Trauma.
Bereavement and Child’s Funeral Benefits: The Bereavement Benefit has been increased from $15,000 to $25,000, and the Child’s Funeral Benefit has been increased from $3,500 to $15,000 for children aged 10 to 20.
Grief Counselling Benefit: A new benefit offering an additional $2,500 to the sum insured.
Financial Planning Benefit: Easier access by removing thresholds and extending the claim period.
New Specific Injury Cover: A low-cost solution that pays a lump sum for any of 30 defined injuries.
Live Chat: Quick and easy access to New Business and Underwriting teams via Adviser Centre.
New-Look E-App: A modern and intuitive user experience launching in March 2025. The E-App’s latest upgrade goes live later this month, with the new ‘share’ feature enabling advisers to send a link to their customers, allowing customers to complete all or part of the application on their own.
Dedicated Adviser Service Team: A team committed to servicing all adviser needs.
Enhanced Retention Tools: Including renewal reminders and automated SMS reminders for customers. There will be additional roles created too.
Expanding adviser support roles: Fidelity Life are creating new roles, including a National Partnership Manager for mid-sized and corporate firms, as well as an Auckland Business Manager and a Desk-Based Business Manager, to provide more tailored support and drive closer engagement.
Adviser Edge Programme: New additions to the programme include an invitation-only overseas study tour and new practice manager masterclasses for admin staff.
Grow Together programme: Coming in early 2025, the invitation-only Grow Together programme will provide dedicated, prioritised support across key areas including new business, underwriting, and retention. Advisers in the programme can expect to benefit from dedicated support resources, exclusive benefits, and access to a wide range of support tools and professional development opportunities.
Adviser Council: Fidelity Life are inviting advisers to express their interest in joining their Adviser council, which meets quarterly with Fidelity Life’s leadership team to discuss industry updates, share market trends, and provides objective feedback on their initiatives.
Adviser relationship survey: To better understand market perceptions and Fidelity Life are launching a bi-annual Adviser relationship survey to provide key insights into advisers' experiences and expectations and where Fidelity Life need to improve.
Group Solutions enhancements: From early 2025, Fidelity Life will be launching a quarterly industry insight, Group IQ; holding an annual onsite Group HQ conference for the top 30 group advisers; and launching a new group solution designed for small businesses, providing enhanced tools and technology for a smoother experience and better outcomes.

Bronwyn Kirwan, Fidelity Life's Chief Commercial Officer, said

"We are thrilled to introduce these new product enhancements and initiatives. They are a testament to our ongoing commitment to providing our advisers and customers with the best possible support and value.
These enhancements deliver more value, greater accessibility, and increased choice."

More info:

Chubb Life change underwriting process for Mortgage Repayment Cover

Partners Life are holding Summer Roadshows in November & December

AIA has launched new Specified Accidental Injury Cover product

AIA survey advisers around the need for terminal illness cover

AIA Vitality members can get up to 40% off Garmin and New Balance

The FSC has recorded a small deficit of almost $46,000 before tax over the 12 months to June 30

ICNZ has welcomed the passage of the Contracts of Insurance Bill

Financial Advice NZ's national adviser conference is on 1 - 3 April 2025

mySolutions webinar 'Why Chubb?' 27 November

Lyka Burr & Vincent Zhang join TAP's compliance and governance team

Unimed offer psychologist led introductory sleep workshops

Ashleigh Buchanan from Southern Cross Health Insurance named Emerging Leader of the Year

Susan Taylor says a fresh solution to liability gaps needed

Kelly O 11/11/2024 Kelly O 11/11/2024

Fidelity Life announces growth plans

Campbell Mitchell, Fidelity Life Chief Executive, has told delegates at the Engage Conference the company’s intentions to grow to a $1 billion company.

Campbell Mitchell, Fidelity Life Chief Executive, announced the company’s intentions to grow to a $1 billion company in eight years time. Mitchell was speaking to delegates at Fidelity Life’s Engage Conference in Auckland.

Fidelity Life was the fastest growing life insurer in New Zealand in the period ending September 30, with 150% growth in new business year-on-year across the last two quarters.