Both Accuro and UniMed enjoy high levels of member and staff loyalty, have strong relationships with advisors and intermediaries, and are both focused on retaining and strengthening those relationships.We share a vision of improving the health and wellbeing of New Zealanders and we are always looking for ways to improve member services and access to affordable healthcare. Like Accuro, UniMed is a New Zealand-based not-for-profit mutual society returning all benefits to members.We are excited by the potential created from combining the resources of both Societies to help deliver long-term sustainable and secure benefits for members. This means we will be better able to operate efficiently and effectively in the current healthcare, regulatory and economic environment, with the aim of delivering greater value and better health outcomes for members. While nothing changes for you in terms of benefits or cover, what does change is that you will now be part of a larger, more resilient health insurance society, with around 140,000 members and 100 staff. If you would like to review the UniMed Society rules, you can read them here on the UniMed website. You will continue to have the opportunity to elect Directors to the Board and can have confidence that any operating surpluses will be reinvested for the benefits of members, rather than being returned to an external shareholder. Our rules are similar and, most importantly, we are both mutual societies that exist for the benefit of our members. Because both Societies are governed by the Industrial and Provident Societies Act, this also means very little change in practice. What will change is that UniMed becomes the insurer and you will become a member of UniMed, rather than being a member of Accuro. While the proposal would combine the Accuro and UniMed capabilities and resources of both organisations within UniMed, both brands would continue, and members will continue to receive the same cover and benefits as defined in their existing policy terms and conditions. It also means that we would be better able to respond to and recover from unexpected events, like the cyber incident at Accuro’s external IT provider in late 2022 which has impacted us over the last 10 months. Having bigger scale will allow us to remain responsive to changing market conditions and affordability challenges in the healthcare environment and provide more options to develop new products and services. Having conducted appropriate due diligence, the Accuro Board believes that combining the two not-for-profit mutual societies will create an even more resilient and sustainable health insurance offering focused on delivering greater value and better customer health outcomes for the members of both Societies.Īs member-based Societies, we do not have to return a profit to shareholders, but we do need to ensure we are financially strong and resilient, and this has been a key driver in taking this strategic decision. As part of this transfer, the resources of both organisations will be combined within UniMed, and all Accuro members would become members of UniMed. “‘Someday’ is a disease that will take your dreams to the grave with you.The proposal involves a transfer of Accuro’s insurance portfolio to UniMed, as part of a transfer of Accuro’s operations to UniMed."The more sand has escaped from the hourglass of our life, the clearer we should see through it." – Niccolo Machiavelli."No matter how much time passes, no matter what takes place in the interim, there are some things we can never assign to oblivion, memories we can never rub away." – Haruki Murakami."You have got to own your days and live them, each one of them, every one of them, or else the years go by and none of them belong to you." – Herb Gardner. Once you've lost it you can never get it back." – Harvey Mackay If you know this, you can begin again, with pure joy in the uprooting." – Judith Minty "I give you this to take with you: Nothing remains as it was."Whether it's the best of times or the worst of times, it's the only time we've got." – Art Buchwald.
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