NZ insurance sector’s fintech engagement lacking

Craig Kirk, General Manager at Delta Insurance, has signed up to a working group for FinTechNZ, a group made up of financial innovation and technology participants who want to help connect, promote and advance the trends shaping the FinTech ecosystem as an offshoot of NZ Tech.

“We’re one of the larger insurers, if not the largest insurer, of tech companies in New Zealand with our tech liability offering and closely linked with that is our cyber liability offering,” he explained.

“Because of that we became members of NZTech so we could get close to our clients and participate in some of their events and education and provide some thought leadership from a risk management point of view. Connectivity and on-demand insurance were two areas where innovation is needed in New Zealand.”

Kirk said he had been pleased to see ANZIIF was taking a leading role in the space, and was holding an insurtech conference in Sydney next month.

“There will be a bunch of forums FinTechNZ will be setting up over the coming year and we’d love to see more insurance participants involved in those events,” he said.
“Even simple things such as being able to buy insurance online, New Zealand is definitely lagging behind the rest of the world in that regard,” he noted. “You go and try and buy insurance for your business online, it’s very, very difficult, even from a personal point of view, the options are quite limited. So just that as a starting point would be a step forward.”

He added: “We’re inviting the insurance industry to get more engaged, the association is very keen to have insurers and brokers involved, and there’s certainly value in that for the insurance sector in having a voice and then there’s the collaboration aspect as well.”

For full article in Insurance Business – click here. 

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