|        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Saturday, May 8th, 7:06PM


Latest Headlines

Southern Cross reports healthy result

Southern Cross says its health insurance membership is growing solidly.

Friday, September 15th 2017, 1:58PM

It has released its latest annual report, which shows it has more than 853,000 members, up 4% on last year.

The insurer now represents 62% of the market and pays 73% of the country’s claims.

It paid 90c in claims for every $1 received in premiums over the past year - covering $830 million across 3.2m claims.

It made a surplus of $6.2m in the year.

Chairman Greg Gent said Southern Cross had invested in digital technology over the past year.

"More than 80% of the claims we receive are now submitted electronically, and close to 200,000 members are registered to use My Southern Cross online," he said.

Gent said the tools were cost-effective and made the claim process easier.

The number of affiliated providers contracted to provide services at agreed prices rose from 1300 last year to 1850 this year.

Southern Cross reported a 48% increase in the number of corporate group schemes initiated via the adviser channel last year. 

"This significant growth has been brought about by more advisers moving into the B2B area of employee benefits, coupled with a simplified product set being offered across all sales channels.  Changes in the health and safety legislation may also have been a contributor.”

Tags: health insurance Southern Cross technology

« Triplejump could get boost from new qualification rulesZurich, AIA make play for Sovereign »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment



Printable version  


Email to a friend
Insurance Briefs

Tower builds partnerships with CSC and Sentro
Tower Insurance has continued its partnership push announcing it has formed new relationships with CSC Buying Group and InsurTech start-up Sentro.

nib Little Legends $10k Relay gives junior players a healthy funding boost
The nib Little Legends $10k relay, held during half-time at the Blues vs Chiefs match on Saturday, was won by the Pakuranga United Rugby Club.

nib helps protect future rugby stars
nib New Zealand has partnered with the Auckland Blues Super Rugby Aotearoa team to launch its nib Little Legends Little Smiles initiative, giving 1000 junior rugby players OPRO custom-fitted mouthguards – the same ones worn by the professionals.

Insurance professionals get time to shine
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has launched an initiative aimed at showcasing the success of insurance professionals.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
Site by Web Developer and