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

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