Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


NZ Online Life Insurance Market Further Expands

Media release
For immediate release
21 November 2006

NZ Online Life Insurance Market Further Expands

New Zealand consumers will soon be able to purchase life insurance online through a range of financial services providers – as a result of an innovative distribution service offered by Christchurch online life insurance provider LifeDirect.

LifeDirect launched New Zealand’s first online life insurance website that can offer full quotes and the ability to purchase online – Now the company is offering consumers the ability to purchase life insurance online through their local insurance broker, mortgage broker or mortgage lender.

“LifeDirect is now becoming a leading provider for direct marketing of life insurance through financial services providers throughout New Zealand,” says LifeDirect Director Neil McKenzie.

“We’re now able to reach many more online life insurance customers through this expanding distribution channel, offering them convenience, ease of use and a wider choice of leading providers. The first financial services provider to offer our service through their own website is the Loan and Building Society which has branches in Ashburton and Rangiora,” Mr McKenzie says.

The Loan and Building Society has recently launched its online life insurance offering, resulting from its partnership with LifeDirect. General Manager John Moore says clients or non-clients can obtain cover at a 10 per cent discount via the Society's website, from leading providers such as Tower, Sovereign, Fidelity Life and Asteron.

"We have had clients taking on mortgages with no life cover, and this new feature makes it easier and less costly for borrowers to protect their assets," Mr Moore says. "It also provides a wider suite of useful financial products for our expanding customer base across Canterbury."

Mr McKenzie adds that a number of other financial services providers around New Zealand are currently in the process of launching online life insurance services via a partnership with LifeDirect.

“LifeDirect’s experience and knowledge of online life insurance enables us to integrate direct marketing of our life insurance into any financial services business model, and we have the in-house expertise to design and implement these online solutions.”

“We are currently developing mortgage insurance/mortgage repayment insurance online services for these businesses to use (as an alternative to life insurance), and are also looking to add medical insurance to our service for the benefit of these providers and their customers,” Mr McKenzie says.

LifeDirect sees unlimited potential for its online life insurance distribution service. “As customers become more technology savvy they want to conduct business 24 hours a day at their convenience. We’re gaining plenty of keen interest as we talk to different parties, and everyone is very enthusiastic about the opportunity to benefit from the service we’re able to offer,” he says.


© Scoop Media

Business Headlines | Sci-Tech Headlines


International Business Forum: NZ EU FTA Coming Down To The Wire – Hold The Line

As negotiations accelerate to conclude an ambitious free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), representing a cross section of major exporters... More>>

MBIE: NZ space sector set to star in Moon mission
The New Zealand space sector is set to star in NASA’s CAPSTONE moon mission – with Rocket Lab launching a satellite to the Moon from New Zealand in June, and the lift-off of a separate NASA-NZ lunar research project... More>>

Air New Zealand: Relaunching 14 International Routes In 16 Days

Air New Zealand is gearing up for the busiest July in two years with the relaunch of 14 international routes in 16 days... More>>

Carbonz: Cashing In On Carbon: The New Marketplace Helping Native Forest To Thrive

The country’s first voluntary carbon credit marketplace, Carbonz, is here to restore native biodiversity and help Aotearoa reach its carbon zero goals by selling the first carbon credits exclusively from native forest... More>>
Entrust District: Dividend Will Be Welcomed After Another Tough Year
We’ve all heard of the saying; “if it sounds too good to be true, it probably is” but for Aucklanders within the Entrust District, getting their share of Entrust’s 2022 annual dividend payment really is as good as it sounds... More>>

BusinessNZ: NZ Economy - Prevailing Headwinds
The latest BusinessNZ Planning Forecast reveals business and consumer confidence is low, with factors at home and abroad hampering our recovery... More>>