| 3 “I love the fact that we are a small Kiwi owned organisation, which means that there is a great feeling of whanau within our culture.” Kiwi health insurer in good heart Karen Phelps Accuro now has over 33,000 members in New Zealand. BUSINESS Accuro to page 4 In its 50th year of operation, New Zealand owned private health insurer Accuro continues to grow, says CEO Lance Walker. The organisation now has over 33,000 members including increasing interest from business owners wanting to offer insurance to their staff. “One thing we have seen is that health insurance is becoming one of the most sought after benefits by employees,” says Lance. “When choosing a job or accepting a position, the mere fact you have health insurance could determine whether you attract and retain the best talent. “In New Zealand, eight out of ten employees rate medical insurance as an important company benefit, and a recent Seek survey identified it as the number one perk for employees. “So in the current tight labour market offering this to staff could be one way to become a preferred employer,” says Lance. There are also other significant benefits. Lance says safeguarding a workplace against the impact of absences due to illness increases productivity and getting health insurance for staff is more affordable than many people think. “In many cases subsidised health insurance is less than 1% of the total salary bill,” he says. “Any money you pay for premiums is offset by an increase in productivity – healthy staff are three times more productive than unhealthy ones. “An absent employee also typically costs an employer $600 to $1,000 a year due to sickness and staff with health insurance can return to work up to three months faster than those without access to private treatment.” With the Covid pandemic predicted to put on-going strain on the hospital system, causing issues such as non-urgent surgery wait times to increase, Lance says private insurance can mean people who require assistance can get it faster. Its high level of service and innovative products are what has led to 50 years of success for Accuro, which recently celebrated this milestone anniversary. Accuro started in 1971 as the Hospital Services Welfare Society providing health insurance exclusively to hospital staff. In 2007 it opened the doors for every New Zealander to take out individual cover and rebranded to Accuro - Latin for ‘taking care’. “I love the fact that we are a small kiwi owned organisation, which means that there We congratulate the team at Accuro Health Insurance on their anniversary We are proud to work with Accuro, which is New Zealand’s best little health insurer www.mahonyhorner.co.nz Mahony Horner Lawyers - for Trusted Legal Advice ROS EW I L L CONS U LT I NG L I M I T E D +64 274 666 686 comply@rosewillconsulting.co.nz LICENSING | COMPLIANCE | AML AUDITS | TRAINING is a great feeling of whanau within our culture. Our size also means that we can make decisions quickly and be more innovative in our thinking. “It requires us to really work well together and collaborate. Our size is therefore a strength and it’s why we like to refer to ourselves as being a small giant in the health insurance sector.”
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