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Personal Accident and Health Insurance in New Zealand, Key Trends and Opportunities to 2021

Personal Accident and Health Insurance in New Zealand, Key Trends and Opportunities to 2021

Synopsis

Timetric’s 'Personal Accident and Health Insurance in New Zealand Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the New Zealand personal accident and health insurance segment, and a comparison of the New Zealand insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2012–2016) and forecast period (2016–2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the New Zealand economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Personal Accident and Health Insurance in New Zealand Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the New Zealand personal accident and health insurance segment, including:

  • An overview of the New Zealand personal accident and health insurance segment
  • The New Zealand personal accident and health insurance segment’s growth prospects by category
  • A comprehensive overview of the New Zealand economy and demographics
  • A comparison of the New Zealand personal accident and health insurance segment with its regional counterparts
  • The various distribution channels in the New Zealand personal accident and health insurance segment
  • Details of the competitive landscape in the personal accident and health insurance segment in New Zealand
  • Details of regulatory policy applicable to the New Zealand insurance industry
Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in New Zealand:
  • It provides historical values for the New Zealand personal accident and health insurance segment for the report’s 2012–2016 review period, and projected figures for the 2016–2021 forecast period.
  • It offers a detailed analysis of the key categories in the New Zealand personal accident and health insurance segment, and market forecasts to 2021.
  • It provides a comparison of the New Zealand personal accident and health insurance segment with its regional counterparts
  • It provides an overview of the various distribution channels for personal accident and health insurance products in New Zealand.
  • It profiles the top personal accident and health insurance companies in New Zealand, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the New Zealand personal accident and health insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the New Zealand personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the New Zealand insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • On November 25, 2016, the Accident Compensation Corporation increased the contribution towards the cost of treatment for New Zealanders paid to the treatment providers by 2.2%. The new rates were effective in the country from December 1, 2016.
  • In January 2016, the Fair Insurance Code was released by the Insurance Council of New Zealand (ICNZ) to establish high standards of service and to check the claims being resolved by the insurers. All members of the insurance council must operate according to the code.
  • A ban on commission for insurance brokers and advisers was proposed in May 2015.
  • New Zealand health insurance industry experienced an exorbitant growth, with a CAGR (compound annual growth rate) of 57.7% during the review period (2012–2016).


  • Key Facts and Highlights
    • Table New Zealand Personal Accident and Health Insurance - Key Facts, 2016
    • Table New Zealand Personal Accident and Health Insurance - Top Insurers, 2016
  • Executive Summary
  • Economy and Demographics
    • Table New Zealand Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table New Zealand Personal Accident and Health Insurance - Gross Written Premium (NZD Million and US$ Million), 2012-2016
        • Table New Zealand Personal Accident and Health Insurance - Gross Written Premium (NZD Million and US$ Million), 2016-2021
      • Claims
        • Table New Zealand Personal Accident and Health Insurance - Paid Claims (NZD Billion and US$ Million), 2012-2016
        • Table New Zealand Personal Accident and Health Insurance - Paid Claims (NZD Billion and US$ Million), 2016-2021
      • Assets and investments
        • Table New Zealand Personal Accident and Health Insurance - Total Assets (NZD Billion and US$ Billion), 2012-2016
        • Table New Zealand Personal Accident and Health Insurance - Total Assets (NZD Billion and US$ Billion), 2016-2021
        • Table New Zealand Personal Accident and Health Insurance - Investment Portfolio (NZD Million), 2012-2016
        • Table New Zealand Personal Accident and Health Insurance - Investment Portfolio (NZD Million), 2016-2021
  • Outlook by Category
    • Table New Zealand Personal Accident and Health Insurance - Gross Written Premium by Category (NZD Million), 2012-2016
    • Table New Zealand Personal Accident and Health Insurance - Gross Written Premium by Category (NZD Million), 2016-2021
    • Personal Accident Insurance
      • Premium
        • Table New Zealand Personal Accident Insurance - Gross Written Premium (NZD Million and US$ Million), 2012-2016
        • Table New Zealand Personal Accident Insurance -Gross Written Premium (NZD Million and US$ Million), 2016-2021
      • Active policies
        • Table New Zealand Personal Accident Insurance - Number of Active Policies (Thousand), 2012-2016
        • Table New Zealand Personal Accident Insurance - Number of Active Policies (Thousand), 2016-2021
      • Claims
        • Table New Zealand Personal Accident Insurance - Paid Claims (NZD Million and US$ Million), 2012-2016
        • Table New Zealand Personal Accident Insurance - Paid Claims (NZD Million and US$ Million), 2016-2021
    • Health Insurance
      • Premium
        • Table New Zealand Health Insurance - Gross Written Premium by Sub-Category (NZD Million), 2012-2016
        • Table New Zealand Health Insurance - Gross Written Premium by Sub-Category (NZD Million), 2016-2021
      • Active policies
        • Table New Zealand Health Insurance - Number of Active Policies (Thousand), 2012-2016
        • Table New Zealand Health Insurance - Number of Active Policies (Thousand), 2016-2021
      • Claims
        • Table New Zealand Health Insurance - Paid Claims (NZD Billion and US$ Million), 2012-2016
        • Table New Zealand Health Insurance - Paid Claims (NZD Billion and US$ Million), 2016-2021
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Brokers and financial advisers
      • Bancassurance
      • E-commerce
      • Other distribution channels
  • Competitive Landscape
    • Table New Zealand Personal Accident and Health Segment - Top Insurers, 2016
    • Company Profiles
      • Sovereign Assurance Company Ltd - company overview
        • Table Sovereign Assurance Company Ltd - Key Facts
      • Southern Cross Healthcare Group - company overview
        • Table Southern Cross Healthcare Group - Key Facts
      • AIA New Zealand - company overview
        • Table AIA New Zealand - Key Facts
      • IAG New Zealand Ltd - company overview
        • Table IAG New Zealand Ltd - Key Facts
      • Tower Insurance (NZ) Ltd - company overview
        • Table Tower Insurance (NZ) Ltd - Key Facts
      • AIG Insurance New Zealand Ltd - company overview
        • Table AIG Insurance New Zealand Ltd - Key Facts
  • Governance, Risk and Compliance
    • Table New Zealand - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table New Zealand - Life Insurance Regulatory Framework
      • Property insurance
        • Table New Zealand - Property Insurance Regulatory Framework
      • Motor insurance
        • Table New Zealand - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table New Zealand - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Liability insurance for maritime oil pollution
      • Insurance for clinical trials
      • Medical insurance for international students
    • Supervision and Control
      • International Association of Insurance Supervisors (IAIS)
      • Reserve Bank of New Zealand
      • Insurance Council of New Zealand
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
        • Table New Zealand - Capital Requirements for Establishment of Insurance Companies
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table New Zealand - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table New Zealand Personal Accident and Health Insurance Industry - Policies and Premium, 2012-2016
      • Table New Zealand Personal Accident and Health Insurance Industry - Policies and Premium, 2016-2021
    • Claims and Expenses
      • Table New Zealand Personal Accident and Health Insurance - Claims and Expenses, 2012-2016
      • Table New Zealand Personal Accident and Health Insurance - Claims and Expenses, 2016-2021
    • Assets and Investments
      • Table New Zealand Personal Accident and Health Insurance - Assets and Investments, 2012-2016
      • Table New Zealand Personal Accident and Health Insurance - Assets and Investments, 2016-2021
    • Personal Accident Insurance
      • Table New Zealand Personal Accident and Health Insurance - Personal Accident Insurance, 2012-2016
      • Table New Zealand Personal Accident and Health Insurance - Personal Accident Insurance, 2016-2021
    • Health Insurance
      • Table New Zealand Personal Accident and Health Insurance - Health Insurance, 2012-2016
      • Table New Zealand Personal Accident and Health Insurance - Health Insurance, 2016-2021
    • Health Insurance by Category
      • Table New Zealand Personal Accident and Health Insurance - Health Insurance by Product, 2012-2016
      • Table New Zealand Personal Accident and Health Insurance - Health Insurance by Product, 2016-2021
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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