First-of-its-kind landlord’s insurance policy launched in NZ

First-of-its-kind landlord’s insurance policy launched in NZ | Insurance Business New Zealand

Property

First-of-its-kind landlord’s insurance policy launched in NZ

It allows property managers to digitally manage almost all claims on behalf of their landlords

Property

By
Kenneth Araullo

Property maintenance platform Tapi has collaborated with digital insurer Open to launch a landlord’s house insurance policy specifically aimed at rental properties managed by real estate agencies. The policy, which is a first of its kind in New Zealand, allows property managers to digitally manage almost all claims up to $10,000 on behalf of their landlords.

The partnership sees Open powering the insurance offering and tech as well as end-to-end from quote to claim. The insurance policy, which is fully integrated into Tapi’s property maintenance software, will be underwritten by Tower.

The new landlord’s insurance policy offers a vast improvement to similar practices in the market, according to Tapi. Before, property managers were limited to lodging claims over the phone and were only pre-authorised to do so after completing additional paperwork. With this policy, property managers can lodge and manage most claims online and any time through Tapi’s extensive platform while documents and other important information are automatically shared.

Tapi chief executive officer Tal Meser said that Open is leading the innovation in the insurance space, and this partnership innovates the way properties are cared for in Aotearoa.

“The recent cyclone in New Zealand has been devastating for a large number of homeowners, tenants and landlords. Property managers play a critical role in supporting them to get up and running again. Tapi and Open’s innovation in Landlord’s House Insurance will make it much quicker and easier for property managers to support landlords’ insurance claims,” Meser said.

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