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

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, May 20th, 6:17PM


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

Partners first life company to cloud platform
Partners Life completes first stage of the company's claims transformation journey.

Celebrating Earth Day
Insurer takes early step on sustainability journey.

Fidelity Life launches new-look claims content
Fidelity rolls out education material to help explain insurance.

Health insurer response times balloon out
Accuro says its response times have become much longer as it implements a new system.

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  |  Disclaimer
Site by Web Developer and