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Momentum Life issued life insurance licence in New Zealand

Momentum Life, one of the fastest growing direct-to-customer life insurance brands in New Zealand, announces the grant of their life insurance licence.

Following almost two years of impressive growth, Momentum Life announced that it has been issued a life insurance licence beginning 12 March 2018, becoming the underwriter of their future products. The Auckland-based company quickly grew after launching in April 2016 and accounted for over 60% of the total new guaranteed acceptance life insurance business issued in New Zealand during 2017. The transition into underwriting policies will help further Momentum Life’s vision of providing simple and affordable life insurance products to New Zealanders.

Russell Howden, managing director of Momentum Life, commented, “We’re thrilled to now hold our life insurance licence and continue our upward growth. This move will provide us with more opportunities to bring innovative products to market, giving New Zealand families more choice when it comes to meeting their insurance needs.”

Underinsurance is an issue for New Zealand. A Massey University study found that the rate of life insurance purchased amongst New Zealanders sits far below levels in similar Western nations, creating a gap estimated at over $195.5 billion. “There is a tremendous life insurance need in New Zealand,” continued Howden, “Momentum Life will continue bridging this gap, providing New Zealanders with products and resources that can help secure their financial futures.”

Momentum Life will continue working to its strengths, including providing customers with an outstanding customer service experience. They have just been awarded the Feefo Gold Trusted Service Award for the second year running, an independent seal of excellence based on feedback from verified customers. They are also developing a range of resource materials, designed to educate customers about estate planning.

About Momentum Life

Momentum Life is one of the fastest growing direct life insurance brands in New Zealand, providing New Zealanders with easy-to-get, value for money insurance solutions. The company is a part of BlueInc Group, a leading financial services group, specialising in delivering and administrating a range of quality insurance products across Australia and New Zealand, via their award-winning insurance brands.

Momentum Life is also a proud supporter of Heart Kids, the only charity in New Zealand dedicated to providing lifelong care and support for children and families living with childhood heart defects. A portion of all Momentum Life’s first-year insurance premiums are donated to support the valuable work Heart Kids does across the country.

To learn more please visit www.momentumlife.co.nz.

Contact: Samantha Owen, Head of Marketing
Tel.: +61 2 9210 7903
Email: samantha.owen@momentumlife.co.nz