Where are you at with nib now, and where have you come from in the last five years?

It’s been a fantastic five years. As you know, we entered the New Zealand market to be a challenger and grow the market. That’s what we’ve done. We’ve got a great adviser business, which is growing, and we’ve got a broader, resilient business with the group and the direct sales.

The adviser part is still really critical, isn’t it?

It’s fundamental. It was always the core of the business and I think it always will be. The good news is that, rather than the 10 years of decline which we had before we bought the business, we’ve now had five years of growth. It’s exciting.

How big is it now?

We’re over $200m now, in terms of revenue. Looking at our reports, we have very good underlying operating profit. The critical thing, though, is the year-on-year growth. It’s double digit.

And your latest new initiative is the First Choice network?

Yeah. Innovation is absolutely fundamental to what we bring to the marketplace. This was a market that was relatively static and hadn’t seen a lot of growth. It’s the new adviser products - particularly the Ultimate range - it’s our direct-to-consumer range, the revitalised group products, and now the First Choice network.

How does the First Choice network work? What’s the reason behind it?

Very simply, our offering to the marketplace is simple, affordable products and choice. First Choice network speaks to two of our strategic goals. Firstly, we want to make sure that consumers have choice, that they can go to any provider they like and get the treatment that they need. Secondly, it’s all about long-term affordability and sustainability. With the First Choice network, 90% of providers are in and they’re charging really fair prices. That means the customer can know that they are getting really good value for money, and we can sustain our premium increases going forward.

How’s it going working with Fidelity Life and their BDMs and distribution?

It’s going very well. Fidelity have been a core strategic partner for us since the beginning. In fact, Milton and I had the early discussions, and now we’re really pleased with the ongoing relationship with Nadine and the team. It’s going very well.

What’s a good way for advisers to start a conversation with their clients about health insurance?

We talk about having healthy conversations. For a client and their family, being healthy, enjoying their life, and being able to engage and do the things they want is critical. The advisers are in a perfect position. They can have a personal conversation with their clients about their life, and about being healthy, happy, and productive. At the end of the day, our lives revolve around how healthy we are. It’s a bit like the weather – we talk about how healthy we are with our friends. The wonderful thing about having private health insurance is that you have choice. If things go wrong – and sometimes they do – you can get the treatment you need, access to healthcare you need, when and where you want it.

You’ve had some changes with commission – what’s happening in that space?

Over the last month or so, we’ve been talking to advisers about how we can help them to have more resilient, profitable businesses, which are sustainable going forward. We’ve launched a new spread commission model, which helps them to grow their business and have much more consistent profit flows. Therefore, their businesses are more sustainable going forward. That is not just a healthy discussion with them and their clients, it’s also a healthy business discussion with them and their Fidelity BDM. If you want a resilient business, and a growing income stream in the long-term, spread commission is the way to go.