What:
Zurich Australia has launched its small business (SME) insurance offering to the New Zealand market.
Why:
The launch of Zurich’s SME offering is focused on tackling high levels of underinsurance in a market where 95% of New Zealand businesses are SMEs, and 25% of these have no insurance at all – equating to around 125,000 small businesses.
How:
- Available through select brokers, the SME insurance uses Zurich’s Z.stream technology, a platform that enables brokers to quote and bind new business, process renewals, and have 24/7 access to mid-term-policy adjustments and endorsements with near real-time access to claims data and reports.
- The product is offered through insurance brokers only and will soon be rolled out to Steadfast, NZ brokers, and Insurance Advisernet before launching to the rest of the market.