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 – www.lifedirect.co.nz. 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.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: Auckland Population May Hit 2 Million In Early 2030s

Auckland’s population may rise from about 1.7 million currently to 2 million by early next decade, Stats NZ said today. “Auckland will likely have the highest average annual growth of New Zealand’s 16 regions over the next 30 years, from ... More>>

Air New Zealand: Business Travellers Return To The Skies In Record Numbers

After a year of talking to a computer, Kiwis are leaving the office to re-connect with their clients, suppliers, and staff. New figures released by Air New Zealand show domestic business and corporate travel has defied global trends by returning ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>

LPG Association: Renewable LPG Achieves Emissions Budgets With No Need To Ban New LPG Connections

Renewable LPG can supply New Zealand’s LPG needs and achieve the emissions reductions proposed by the Climate Commission without the need to ban new connections, a new study shows. The investigation, by leading consultancy Worley, was prepared for the ... More>>

Commerce: House Values Continue To Climb As New Government Measures Announced

The Government’s new initiatives to quell the rocketing housing market were announced last week, just as house prices hit a new high for the end of March. The average value increased 7.8% nationally over the past three-month period, up from the 6.8% ... More>>