UniMed – One of NZ’s top four health insurance companies
Specialist in individual and work health insurance
Despite our relatively low profile, you may be surprised to learn that, we’re one of the top four group health insurers in New Zealand, and our employer schemes are the preferred work health insurance for a number of New Zealand’s largest and most successful businesses.
We are low-key, and low cost compared with other top health insurance companies [check our plans]. And, because we are a pure Kiwi, not-for-profit mutual society, there are no shareholders in New Zealand or overseas, so no expectations of large profits to pay dividends. It’s this, together with an understated marketing approach, which leaves more money to pay out in work health insurance claims to you, our members.
Voted #1 for Customer Service
Being low-key doesn’t mean we compromise on service. In fact, in independent tests of NZ health insurance companies conducted by Canstar (2013), UniMed was rated #1 group health insurer for customer satisfaction. You’ll enjoy a fast claims turnaround, with most standard claims being processed within 2-3 days of receipt.
Some health insurers seem to be always looking for ways to decline claims. Others try to approve so many that their reserves become depleted. UniMed has been operating since 1979 and the reason it has become one of the top NZ health insurance companies is that it has developed a unique approach that pays out one of the highest percentage of claims of major providers*, while still maintaining excellent reserves. Our priority is our members’ health, not shareholder wealth!
Here for the long haul
It’s always a hassle to chop and change between health insurance companies and often doing so means losing cover for existing medical conditions. So it’s comforting to know that UniMed has an A- financial rating from AM Best. Through a commitment to keeping overheads low and our marketing low-key, we return more money to members, while still retaining a healthy reserve. That means that, even if we stopped getting membership fees, we could pay out on all claims for the next 18 months!
Focused on service excellence.
Enjoy great service from UniMed’s regional team of Account Managers assigned to provide local service to Members of work health insurance schemes and a toll-free customer service centre, available to provide any further assistance to all Members.
* Over the five years ending June 2013 we paid out 88 cents of claims for every dollar of premium received.
Union Medical Benefits Society Limited is an incorporated Society registered under the Industrial and Provident Societies Act 1908.
As at 31 December 2013 UniMed's solvency margin was $59,585,194 and solvency ratio 501.8% based on the Reserve Bank of New Zealand's solvency calculation
standard for non-life insurance companies.
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