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


Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>


Economy: Supply Chain On Brink Of Overload Says National Road Carriers

The New Zealand supply chain is on the brink of overload and it looks like the upcoming peak imports season may push it over the edge says National Road Carriers Association (NRC) CEO David Aitken. “Worldwide supply chains are in disarray,” says Mr Aitken. ... More>>

Retail: Supermarkets Announced As Government’s Second Market Study

The Government has today launched a market study to ensure New Zealanders are paying a fair price for groceries. More>>


Statistics New Zealand: Retail Sales Recover In The September 2020 Quarter

Retail sales values recorded the largest September quarter rise since the series began in 1995, Stats NZ said today. Spending on major household items, vehicles, and groceries contributed to the strong 7.4 percent ($1.8 billion) rise in total ... More>>

Kea Aerospace: New Zealand Flies Into The Stratosphere

Development has started on a solar-powered, unmanned aircraft that can fly in the stratosphere continuously for months at a time. The zero-emission aircraft will carry a suite of imagery equipment that will be game-changing for many industries, vastly ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>


Forest & Bird: Kākāpō Wins Bird Of The Year 2020

The nation has voted and Aotearoa New Zealand has a new Bird of the Year. New Zealand’s moss-colored flightless parrot has climbed to the top-spot for the second time in Forest & Bird’s annual Te Manu Rongonui o Te Tau/Bird of the Year competition. ... More>>