tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, October 2nd, 8:26AM

Insurance

rss
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

 

print

Printable version  

print

Email to a friend
Insurance Briefs

AIA reveals grant winners
AIA has revealed the financial advisers and advice businesses that will be given financial backing for their community initiatives.

Insurer nib backs Ronald McDonald House with $20k investment
Health insurer nib New Zealand and its nib foundation have lent support to Ronald McDonald House Charities.

Less stressed during lockdown
New Zealander’s health and wellbeing had surprising benefits from the Covid-19 lockdown.

Southern Cross supports new safe haven for at-risk pets
Southern Cross Pet Insurance has teamed up with Pet Refuge to provide temporary shelter for animals affected by family violence.

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 eyelovedesign.com
x