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Partners quits HFANZ

The Health Funds Association, the body representing insurers offering medical insurance in New Zealand, has had to estimate its market data for the September and December quarters after the resignation of Partners Life.

Friday, February 19th 2016, 9:59AM 1 Comment

by Susan Edmunds

Health Funds releases information every three months about the number of people with private health cover and claims payouts.

But chief executive Roger Styles said it had to estimate the last two quarters of last year because Partners Life had quit the organisation.

"They ceased to be a member after June."

He said that would mean the estimates would become more prone to error over time, unless Partners decided to rejoin.

Partners Life managing director Naomi Ballantyne said it was a cost/benefit decision for the insurer.

"We haven't seen the value for the spend."

She said the sorts of data being produced by Health Funds were not beneficial. More useful would be data on the amount of premium collected compared to claims paid and the small number of people turned down for claims.

Ballantyne said Partners Life had suggested Health Funds merge with the Financial Services Council.

"There was appetite from the FSC but both bodies wanted to be 'the body'," she said. "And not all insurance companies have medical so it's not of interest to them."

Tags: health insurance HFANZ

« Peer cover a hard sell but new product plannedAMP plans no premium increases this year »

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Comments from our readers

On 19 February 2016 at 1:26 pm Referee said:
Good call Naomi....with the present 'climate', merging makes a whole lot of commonsense right now.

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