Health Insurance in New Zealand - Market Research Report

Health Insurance industry trends (2014-2019)

poll Average industry growth 2014–2019: 6.4%

The Health Insurance industry has recorded steady growth over the past five years, underpinned by rising premiums. Industry operators have reported an increasing volume of claims paid over the period, on the back of a rising population aged 50 and over. This trend has led health insurers to raise premiums to maintain profitability after recording an operating deficit at the start of the past five-year period. Private health insurance membership numbers have grown over the past five years as health consciousness among the population has increased. A rise in the number of employer-subsidised memberships has also driven increasing coverage rates over the period. Overall, industry revenue is expected to increase at an annualised 3.7% over the five years...
lock
Purchase this report or a membership to unlock our full summary for this industry.

Health Insurance industry outlook (2019-2024)

poll Average industry growth 2019-2024: x.xlockPurchase this report or a membership to unlock the average company profit margin for this industry.

The Health Insurance industry is projected to continue recording steady revenue growth over the next five years. Private health expenditure is anticipated to rise and become an increasingly important source of funding to New Zealand's health system over the period, particularly as demand rises for health care and social assistance. Premiums are anticipated to increase over the next five years as health insurers seek to cover rising costs, supporting industry revenue growth. Private health insurance membership numbers are projected to rise over the period, with a greater population aged XX and over adding to the already strong uptake among younger demographics. Overall, industry revenue is forecast to rise at an annualised X.X% over the five years thr...
lock
Purchase this report or a membership to unlock our full summary for this industry.

Health Insurance industry statistics

  • attach_money Market Size: $2bn
  • business Number of Businesses: 41
  • poll Average Industry Profit Margin: x.x%
    lock
    Purchase this report or a membership to unlock the average company profit margin for this industry.
  • supervisor_account Industry Employment: 981

Biggest companies in the Health Insurance industry

The companies holding the largest market share in the Health Insurance in New Zealand industry include Southern Cross Medical Care Society and nib NZ Limited.

  • pie_chart Southern Cross Medical Care Society Market Share: x.x%
    lock
    Purchase this report or a membership to unlock our full summary for this industry.
  • pie_chart nib NZ Limited Market Share: x.x%
    lock
    Purchase this report or a membership to unlock our full summary for this industry.

What is Health Insurance industry?

Industry Definition

Industry operators primarily provide health insurance. Firms in the industry underwrite policies covering hospital, medical, dental, pharmaceutical and funeral expenses.

Industry Products and Services

  • Elective surgery cover
  • Comprehensive cover
  • Minor medical cover
  • All Others

Industry Activities

  • Health insurance provision
  • Dental insurance provision
  • Funeral benefit provision

Market research report - table of contents

Industry Definition

Industry operators primarily provide health insurance. Firms in the industry underwrite policies covering hospital, medical, dental, pharmaceutical and funeral expenses.

Main Activities

  • Health insurance provision
  • Dental insurance provision
  • Funeral benefit provision

Similar Industries

Additional Resources

Industry Statistics Snapshot

Industry Structure

Executive Summary

Key External Drivers

Private health insurance membership represents the size of the industry's client base. Higher private health insurance membership numbers generally help i...
lock
Purchase this report or a membership to unlock the full breakdown of the key external drivers in this industry.
Private health insurance membership
Demand from health care and social assistance
Population aged 50 and older
Real household disposable income

Current Performance

Operating landscape
 Chart: Revenue Growth

Industry Outlook

The future health system
 Table: Health Insurance in New Zealand - Market Research Report Industry Revenue Outlook

Industry Life Cycle

Life Cycle Reasons
 Chart: Benchmarking - Health Insurance in New Zealand - Market Research Report Industry Lifecycle vs The Economy

Supply Chain

Key Buying Industries

Consumers in New Zealand






Key Selling Industries

Hospitals in New Zealand
Specialist Medical Services in New Zealand
Dental Services in New Zealand
Other Health Services in New Zealand



Products & Services

The Health Insurance industry provides health insurance for a range of hospital, doctor and prescription services. Health insurance plans can be broadly g...
Individuals aged 20 to 39
Individuals aged 19 and under
Individuals aged 60 and over



Demand Determinants

Several factors influence demand for private health insurance (PHI) coverage. The availability, cost and quality of substitutes significantly affect deman...
lock
Purchase this report or a membership to unlock the full analysis of the demand determinants in this industry.

Major Markets

Individuals aged 20 to 39
Individuals aged 19 and under
Individuals aged 60 and over




 Chart: Major Market Segmentation for the Health Insurance in New Zealand - Market Research Report Industry

International Trade

Business Locations

Chart: Business Locations by State Chart: Business Locations by State

Market Share Concentration

The Health Insurance industry exhibits high market share concentration. The two largest private health insurance providers alone are expected to account f...
lock
Purchase this report or a membership to unlock the full analysis of the market share concentration in this industry.

Key Success Factors

Cost Structure Benchmarks

Profit, Purchases, Wages, Other Costs
 Chart: Cost Structure Benchmarking – Sector vs Health Insurance in New Zealand - Market Research Report

Basis of Competition

Internal competition
External competition

Barriers to Entry

 Table: Barriers to Entry Checklist for the Health Insurance in New Zealand - Market Research Report Industry

Industry Globalization

Southern Cross Medical Care Society (SCMCS), which trades as Southern Cross Health Society, is a health insurance provider that operates under the Souther...
lock
Purchase this report or a membership to unlock the full analysis of the major players in this industry.

Southern Cross Health Society

 Table: Southern Cross Health Society - financial performance

nib nz

 Table: nib nz - financial performance

Capital Intensity

The Health Insurance industry is characterised by low capital intensity. For every dollar paid as wages in 2019-20, an estimated $0.07 is spent on capital...
lock
Purchase this report or a membership to unlock the full analysis of the capital intensity of this industry.
 Chart: Level of Capital Intensity for the Health Insurance in New Zealand - Market Research Report Industry
 Chart: Tools of the Trade: Growth Strategies for Success

Technology & Systems

Revenue Volatility

Chart: Volatility vs Industry Growth Chart: Volatility vs Industry Growth

Regulation & Policy

Industry Assistance

Table: Industry data Table: Industry Data for the Health Insurance in New Zealand Industry

Industry Revenue (2007-2026)
Industry Gross Product (2007-2026)
Establishments (2007-2026)
Businesses (2007-2026)
Employment (2007-2026)
Exports (2007-2026)
Imports (2007-2026)
Wages (2007-2026)
Domestic Demand (2007-2026)

Table: Annual Percentage Change for Key Industry Data Table: Annual Percentage Change for Key Industry Data

Table: Key Ratios for Industry Key Dat Table: Key Ratios for Industry Key Data

Table: Industry Financial Ratios Table: Industry Financial Ratios

Liquidity Ratios
Coverage Ratios
Leverage Ratios
Operating Ratios
Cash Flow & Debt Service Ratios (% of Sales)
Assets, %
Liabilities, %

ELECTIVE SURGERY

LOSS RATIO

PREMIUMS

Purchase to Read Full Report

100% Money Back Guarantee Digicert Trusted

Included in Report

  • Industry Financial Ratios
    Industry Financial Ratios
  • Revenue Forecasts
    Revenue Forecasts
  • Historical and Forecast Growth
    Historical and Forecast Growth
  • Industry Market Size
    Industry Market Size
  • Industry Major Players
    Industry Major Players
  • Profitability Analysis
    Profitability Analysis
  • SWOT Analysis
    SWOT Analysis
  • Industry Trends
    Industry Trends
  • Industry Operating Conditions
    Industry Operating Conditions
  • Porter's 5 Forces Analysis
    Porter's 5 Forces Analysis

Why buy this report on the Health Insurance industry?

IBISWorld industry market research reports enable you to:

  • Find out about key industry trends
  • Identify threats and opportunities
  • Inform your decisions for marketing, strategy and planning
  • Quickly build competitive intelligence

This report on Health Insurance in New Zealand:

  • Provides Market Size information to assist with planning and strategic decisions.
  • Includes the necessary information to perform SWOT, PEST and STEER analysis.
  • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
  • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.

The Health Insurance in New Zealand market research report includes:

  • Historical data and analysis for the key drivers of this industry
  • A five-year forecast of the market and noted trends
  • Detailed research and segmentation for the main products and markets
  • An assessment of the competitive landscape and market shares for major companies
  • And of course, much more

IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Health Insurance in New Zealand, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

Trusted by More Than 10,000 Clients Around the World

  • IBISWorld client - VISA
  • IBISWorld client - ADP
  • IBISWorld client - Deloitte
  • IBISWorld client - AMEX
  • IBISWorld client - Bank of Montreal
clear