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

 

NZers Demand a Digital-First Insurance Experience

New Zealanders Demand a Digital-First Insurance Experience

New Zealand consumers are increasingly demanding a better digital experience from their insurers, according to research undertaken by local insurance startup Cove.

Through consumer testing panels Cove’s research has highlighted the need for an overhauled customer experience, less paperwork, and greater use of plain-english within the insurance industry.

Cove CEO Andy Coon stated “Recently we have seen all New Zealand insurers begin to offer online quotes and self-service portals, but the process still has a long way to come to be considered an intuitive experience for customers. Kiwis enjoy an intuitive digital experience with their banks, and it’s time the insurance industry caught up.”

“Cove believes that simplifying the online quoting, buying, and claims management process will improve the perception of the insurance industry in the eyes of the consumer.”

“At the moment consumers often don’t know what they have purchased until they need to make a claim, and then realise they perhaps weren’t covered in the way they thought they were.”

“By making insurance intuitive to buy and easier to understand, consumers will have a much better understanding of what they’re covered for. Essentially we’re using technology to demystify insurance to make it better for both the consumer and the insurer”.

Being an Auckland based startup, Andy highlights that “Not many insurers have the luxury of being built from the ground up, guided by real consumer feedback from New Zealanders every step of the way.” Launching in 2018, Cove is to be New Zealand's first digital insurer, as opposed to a traditional insurance company working to adopt new technology.

“Innovation and technology is what drives us, and insurance is an industry where we feel we can make significant improvements to the customer experience” explained Head of Product Rob Coon.

“We are a team of insurance veterans and innovation enthusiasts. We know how insurance works inside-out and we are now building a digital platform on which New Zealanders will soon be able to buy, manage, and claim insurance on.”

https://www.coveinsurance.co.nz

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: Policy Lessons From A Year Of Covid-19

The Reserve Bank of New Zealand – Te Pūtea Matua was in a sound position to continue to meet its mandate in the face of the COVID-19 induced economic shock. However, we must continue to transform so as to remain relevant and effective in addressing longer-term challenges, Reserve Bank Governor Adrian Orr said... More>>


Transport Industry Association: Feb 2021 New Vehicle Registrations Strongest On Record

Motor Industry Association Chief Executive David Crawford says that the February 2021 figures are the strongest for the month of February ever. Registrations of 12,358 were 8.0% up on February 2020. Year to date the market is up 7.1% (1,735 units) compared to the first two months of 2020... More>>

Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>



Psychic Ventures: US Consumer Spending On Video Games Jumped By 42% In Jan 2021

On a global scale, there was a 15% increase in digital games revenue in January 2021, pushing the total to $11.6 billion.
In the US, gaming revenue rose to an impressive high during the month thanks to the new generation of consoles. ... More>>

OECD: Annual Inflation Picks Up To 1.5% In January 2021 While Euro Area Records Sharp Increase To 0.9%

Annual inflation in the OECD area picked up to 1.5% in January 2021, compared with 1.2% in December 2020. Following a rebound between December and January, the annual decline in energy prices was less pronounced in January (minus 3.9%) than in December... More>>


Hemp Industries Association: Could The Next Team NZ Boat Be Made Entirely Of Hemp?

With The America’s Cup due to start in a few days’ time, innovators from a very different sphere have been wondering how long it could be before New Zealand could be competing in a boat entirely built from hemp, with the crew eating high-energy, nutritious hemp-infused foods and wearing high-performance hemp kit..? More>>


ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>