Rising costs require fresh thinking, AIA NZ CEO says

Health insurance premium increases are hurting New Zealand customers and insurers are asking the government to help find solutions, AIA New Zealand chief executive Nick Stanhope says.

New Zealand’s health insurance inflation is among the highest in the Asia-Pacific region. AIA NZ CEO Nick Stanhope says the affordability pressures require fresh thinking from both insurers and policymakers.

This could come in the form of smarter products, a better understanding of underlying health trends, and potentially Australian-style tax deductibility for health insurance.
AIA NZ has met with Health Minister Simeon Brown twice this year - first a one-on-one meeting in June, and then in August as part of the FSC’s CEO Forum. Stanhope says the meetings were promising.

“I was very impressed with Minister Brown,” Stanhope told Good Returns.