NZI has acquired an ownership stake in Initio, the New Zealand insurtech, as part of a wider plan to accelerate its digital transformation and provide brokers with faster, more streamlined tools for personal lines insurance.
The insurer said the investment will support the creation of a dedicated NZI personal lines agency built on Initio’s proven digital platform.
Garry Taylor, executive general manager at NZI, said the move represents a major step in the company’s digital strategy.
“This marks a significant step forward in NZI’s digital transformation strategy. This investment allows us to bring together NZI’s underwriting expertise with Initio’s cutting-edge digital capability to deliver a compelling digital experience for brokers and their clients.”
He said the partnership would help modernise the broker experience by integrating underwriting depth with advanced technology.
NZI said the new agency will be designed to simplify and enhance the way brokers serve customers.
It will offer faster quoting, more intelligent pricing and simpler claims handling, supported by client and broker dashboards that provide full visibility of policies and claims.
The insurer said brokers will retain oversight and be able to add value at key stages of the customer journey.
NZI currently underwrites Initio’s insurance programme and said the acquisition will allow it to use Initio’s technology more extensively to deliver innovative, technology-driven solutions for brokers and customers.
The company said the partnership reflects its commitment to improving digital capability across the sector and meeting changing expectations for personal lines insurance.