Payments Innovation

Event Recording:

Payments are one of the most frequent touch points between a policy holder and their insurer or broker. Our panel discussion will cover what the industry can do collectively to improve the payments experience through greater self-service, transparency and automation.

Thanks to Our Speakers

Moderated by Elri Pienaar (Manager, Deloitte), the panel featured a range of perspectives from broker networks and software platforms to banking partnerships and claims innovation.

• Alistair Monk, Co-founder and CEO, FolioInsure
• Elri Pienaar, Manager, Deloitte
• Jon Davies, CEO, InsuredHQ
• Rachel Kennedy, Senior Manager, Open Data Partnerships, BNZ
• Steve Wilson, Chief Claims Officer, Tower
• Shaun Quincey, Co-founder and CEO, Simfuni

Key Themes

● Customer Expectations Are Rising: From Netflix-style simplicity to instant digital payments, customers now expect seamless and flexible payment experiences across all channels.

● Legacy Systems Still Dominate: Ageing software and fragmented workflows make even basic payment innovations difficult. Incremental improvements and open APIs were seen as a way forward.

● Embedded Insurance Requires Transparency: While embedded products offer convenience, maintaining clear disclosure and pricing within bundled services is essential.

● AI and Data Bring New Efficiencies: AI can streamline everything from fraud detection to claims validation. With quality data, these tools reduce administrative costs and enable a faster, more accurate service.

Conclusions

Panellists agreed that improving payments is key to unlocking better customer experiences. Standardisation, collaboration, and modern architecture will help lower integration costs and support innovation. As one speaker noted, ‘Payments are the digital doorway’ and getting

them right can shape the entire insurance customer journey. InsurTechNZ looks forward to supporting more conversations like this.

Generously supported by AWS.