Initio, the first insuretech company in New Zealand to provide instant online house insurance, today announces that it has given even more control to customers by launching another NZ first, Live Policy.
Live Policy means that customers can instantly modify or add to their insurance in an on-demand fashion without having to nervously wait for a confirmation.
The traditional process of getting and modifying insurance remains clunky and broken. When it launched in 2011 initio was transformative in giving homeowners and landlords the ability to effortlessly quote and purchase house insurance online and in real time through its website www.initio.co.nz. A process that takes less than five minutes without the need for paper applications or long winded phone calls.
Initio has today taken their market leading approach a step further. Through a personalised dashboard, Initio customers can now fully manage and modify their insurance policy instantly and whenever they want. This luxury does not exist with other insurers, who require the customer to make direct contact by phone or email to request the cover change.
Initio’s Live Policy means that the customer is in charge. Anytime, day or night, the customer can modify their insurance cover in a multitude of ways. This includes being able to increase or decrease the replacement value or excess of their own home, holiday home or rental property. Crucially, Live Policy also means that the customer can add to their cover an engagement ring they purchased on the weekend. Waiting till business hours on Monday to get insurance cover is now a thing of the past.
Since its inception initio has always used technology to push the boundaries of insurance for the benefit of the end user. “Insurance doesn’t need to be complicated” says initio CTO and co-founder Sam Brook. “Our overriding mission is to make insurance more approachable for homeowners and landlords, Live Policy is a significant digital milestone for both initio and insurance in New Zealand”.