Partnership prompts new outlet for travel insurance

by NZ Adviser08 Apr 2016
Cover-More has announced a travel insurance partnership with Westpac New Zealand in a first for the bank’s online services.

The specialist travel insurance and medical assistance provider will provide comprehensive travel insurance policies, underwritten by Great Lakes Reinsurance (UK) SE, and assistance services to Westpac customers via the Westpac website and its customer call centre.

Cover-More said the new business partnership firmly established it as the market leader in travel insurance and assistance in New Zealand, adding to its existing partnerships with IAG brands AMI and State Insurance, Air New Zealand, Flight Centre and FMG among others.

Cover-More New Zealand CEO, Bruce Morrison, said: “The local growth we are achieving here in New Zealand reflects the pace of growth our business is experiencing around the world.

“We are rapidly expanding into new markets, the latest being the United States, and we continue to develop innovative products that provide compelling value to our customers and our business partners.”

Morrison said under the new partnership, customers had access to unique Cover-More policies created for Westpac New Zealand and were available via a simple online purchase system through the bank’s website.

An important feature was customers’ ability to note any pre-existing medical conditions and flag activities such as snow skiing when buying their policy.

“Our partnership means that Westpac customers can have peace of mind when they travel because they have the protection and assistance they need to help them keep travelling, no matter where they are in the world,” Morrison added.

The new partnership went live in December, with customers already taking advantage of the offerings during the summer months.

Westpac NZ’s acting head of investments & insurance, Nigel Jackson, said the offering was an example of what made their online offering so successful.

“We continue to make it easier and faster for our customers to have the products, tools and functionality they need for all their banking and insurance needs,” he said.

“The 2015 launch of our fully responsive Westpac One platform is an example of delivering customers enhanced functionality, a consistent experience and underlines our on-going investment in digital and self-serve channels.”

Jackson said that as a result of launching Westpac One, Westpac New Zealand was named Best Online Bank in New Zealand by Canstar, shortly after being named the Best Retail Bank of the Year (NZ) at the Asian Banker Awards.
 

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