Important information on the Accuro transfer to UniMed
All information about the background of the transfer can be found in the dedicated section of the website which can you see by following the link below.
We have prepared the following section specifically for financial advisers of Accuro Health Insurance.
Process and Timeline
When will Accuro be transferred to UniMed?
UniMed and Accuro are working together to complete the transfer by the end of May.
Will there be any disruptions to service during the transfer?
The transfer process won’t affect the service and care we provide to your clients.
Membership, Policy Coverage and Terms
Will my clients remain Members of Accuro?
Your clients will become UniMed Members at transfer. Accuro Health Insurance Society will relinquish its license and be wound down, although the Accuro brand will remain in the market as a brand owned and operated by UniMed.
Will my client’s coverage and terms remain the same?
Yes, there are no changes to policy wording, cover or benefits due to the transfer – the only change will be that UniMed will be listed as the new underwriter on Accuro policy documents and the policy certificate.
Will my clients get new policies and policy certificates?
On transfer day, UniMed will send a welcome email/letter to all transferred Accuro Members referring them to their updated policy document on the Accuro website and their policy certificate in the Accuro Member portal.
Are there any changes to policy limits, excesses, or premiums for my clients?
There are no changes to policy limits, excesses, or premiums due to the transfer.
Client Impact
How will this transfer affect our clients?
There will be no impact to your clients at transfer. All plans, terms, conditions, and contact details will remain the same and in most cases, Members will continue to deal with the same people and teams as they previously did.
Will there be any changes in claims handling procedures or contact points for clients?
There will be no changes to claims handling procedures with the same processes and teams looking after Accuro Members and their claims.
Do I contact Accuro or UniMed with questions?
You can continue to work with Accuro in the same way you always have - the existing contact details for Accuro all remain the same.
Members or Advisors wanting to discuss their Accuro-branded health plans should continue to contact Accuro.
Will Accuro rates and policies still update on 1 September?
There is no planned change to this review date.
Agency Agreements
Will I receive a new UniMed Agency Agreement?
If it is UniMed’s intention to offer you a new Agency Agreement, you will receive an email explaining the new Agreements process, which includes a request for contact information and a copy of the UniMed Agency Agreement. Please provide the requested information by 15th May 2024. Following this, you will be sent a new UniMed Agreement via the DocuSign system for completion by 29th May 2024. If you have not received these communications, and believe you should have, please email advisors@unimed.co.nz
With my new UniMed agency agreement, can I now sell UniMed health plans?
Yes, UniMed specialises in group scheme business and your Relationship Manager can pass on details to discuss opportunities.
Will I have a UniMed Relationship Manager after transfer?
No, you can continue to work with your existing Accuro Relationship Manager.
My Accuro agency agreement was terminated, can I take out a UniMed agency agreement?
To discuss this, please email us at advisors@unimed.co.nz
Claims Handling
How will claims be handled during and after the transfer?
There is no change to the way Accuro will process new, on-going, or pending claims for your clients. Accuro claims will be handled by the same team that have always processed these.
Compliance and Regulations
Are there any regulatory considerations or compliance requirements associated with the transfer?
UniMed is regulated by the Reserve Bank of New Zealand and the Financial Markets Authority. Both regulators have been kept up to date with the progress of the transfer. The Reserve Bank has provided the regulatory approval for the transfer and UniMed has have provided necessary notifications to the Financial Markets Authority.
How is data protection and privacy managed during the transfer?
UniMed has a range of safeguards, technology, and physical procedures, to provide a robust security environment for all Member information and data.
Will Accuro’s Financial Strength Rating change?
At transfer, UniMed’s Financial Strength Rating will apply to any Accuro-branded business. UniMed has an A (Excellent) Financial Strength Rating. For information on UniMed’s current Financial Strength Rating and the scale used by AM Best, please visit our website at: www.unimed.co.nz/about-unimed/financial/strength.
Communication and Support
Who will be our main point of contact after the transfer?
You will continue to work with your Accuro Relationship Manager before and after the transfer is complete. If you have any questions, please direct them to your Relationship Manager or email us on advisors@unimed.co.nz
How will communication be handled throughout the transfer process?
Once the transfer is complete, we will communicate with you. Any questions in the meantime can be directed to your Accuro Relationship Manager or email us at advisors@unimed.co.nz
Financial Considerations/Commission
How will commissions be handled under the new agreement?
There is no change to how commissions will be paid, commission payment frequency or commission amounts due to transfer.
Will there be any changes in billing or invoicing procedures?
There is no change to billing or invoicing procedures due to the transfer.
The Accuro Brand
What happens to the Accuro brand? Can I still use the Accuro collateral that I have?
The Accuro brand, health plans, website, member portal, and contact details all remain post transfer. UniMed becomes the underwriter and overarching organisation.
While you will not be able to use old forms, there will be new forms and policy documents updated on the Accuro website. As always, there are limited numbers of physical policy documents to send out, therefore we ask that you use the website in the first instance.
About UniMed
UniMed offer a personalised health and wellbeing service and specialise in providing flexible workplace health plans and other wellbeing services to leading New Zealand organisations and their employees. Our organisation has been covering Kiwi workers for more than 40 years, with over 140,000 people enjoying memberships with us.
After the transfer is complete, UniMed will be the third largest health insurer in New Zealand, with 10% of the market and 140,000 Members who are supported by a UniMed team of 100.