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LifeDirect adds to online insurance offering

Media release
For immediate release
1 November 2006

LifeDirect adds to online insurance offering

LifeDirect, New Zealand’s first life insurance website offering the ability to purchase online, has now added Tower Insurance to its list of providers and has simplified its online application process – further developing its online offering amidst surging efforts to sell life insurance direct to the public.

Competition is mounting in the New Zealand direct-to-public life insurance market and LifeDirect is leading the charge online just a year after the launch of the site – the only New Zealand website to take users through the entire life insurance quoting, application and purchasing process online.

LifeDirect Director Neil McKenzie says Tower Insurance is the site’s newest insurance provider, joining Asteron, Fidelity Life and Sovereign – offering customers even more choice and convenience when choosing their life insurance package.

“Since we launched LifeDirect more than a year ago, we’ve noticed a demand from customers looking for more choice of providers and a wider range of insurance prices to choose from. So far we’ve given more than 20,000 quotes to customers through LifeDirect, and that’s expected to increase now that we have the strongly recognised brand of Tower on board,” Mr McKenzie says.

Further developments to since its launch in September last year include a rebranding of the site and a website overhaul that has made the entire online application process easier and quicker for customers.

For a joint application, both applications can now be completed simultaneously on one web page rather than one at a time as before, using smarter database technology to simplify the process.

Developments made to the website also enable LifeDirect staff to respond more quickly to changes such as adding new or revised insurance application forms to the site, Mr McKenzie says. “We’ve future-proofed the site – we want to continue offering the widest range of insurance online in New Zealand, and hope to expand our site to wider worldwide markets in future.”

LifeDirect attracts diverse range of customers

After just over a year online, LifeDirect is already attracting a diverse range of customers such as young professionals, farmers, busy businesspeople, shift workers and company directors.

“It’s all about making life easy for our customers, who are already purchasing other services and products online. We’ve found that Auckland is our biggest market, and customers are mostly in the 30-40 age bracket – they tend to be time-conscious and are looking for a convenient, hassle-free way to get the life insurance they need,” Mr McKenzie says.

“Younger generation New Zealanders are looking more and more to the internet for products and services – take TradeMe as a prime example – and prefer to take the self-service approach that the internet offers.

“Answering questions online is often easier for them than filling out lengthy forms by hand, and this is where LifeDirect becomes an essential service. We’re really adding value to this sector of the life insurance market,” he adds.


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