Not-for-profit
Southern Cross is one of New Zealand’s best known and most trusted brands.
Our legal name is ‘Southern Cross Medical Care Society’ and we’re a a not-for-profit organisation. Our primary duty is to look after the health of members, rather than the pockets of shareholders.
Fair and sustainable premiums
To maintain our position as New Zealand’s leading health insurer, our goal is to provide a premium structure that is fair to members and sustainable over the long term.
Getting better all the time
At a recent review of benefits, we approved increases in cover levels and new additions to cover worth an estimated $12.8 million per annum.
Most of the money we collect is paid in claims
For every dollar of health insurance premium income received, we aim to pay out 85 cents for every $1.00 in premium received. In the financial year ending 30 June 2009 we paid out 96.6 cents in each $1.00.1 If you take Southern Cross out of the equation, the average claims to premium ratio for other insurers was around 70 percent.
Sources:
1. Southern Cross Annual Report 2009.
Not-for-profit
Southern Cross is one of New Zealand’s best known and most trusted brands.
Our legal name is ‘Southern Cross Medical Care Society’ and we’re a a not-for-profit organisation. Our primary duty is to look after the health of members, rather than the pockets of shareholders.
Fair and sustainable premiums
To maintain our position as New Zealand’s leading health insurer, our goal is to provide a premium structure that is fair to members and sustainable over the long term.
Getting better all the time
At a recent review of benefits, we approved increases in cover levels and new additions to cover worth an estimated $12.8 million per annum.
Most of the money we collect is paid in claims
For every dollar of health insurance premium income received, we aim to pay out 85 cents for every $1.00 in premium received. In the financial year ending 30 June 2009 we paid out 96.6 cents in each $1.00.1 If you take Southern Cross out of the equation, the average claims to premium ratio for other insurers was around 70 percent.
Sources:
1. Southern Cross Annual Report 2009.