Search

Initio Review

Our review of Initio outlines its insurance focus areas, claims process, history of operations, pros and cons, and underwriters.
Updated 30 August 2024
Summary of Initio:
  • New Zealand's first 100% online house insurance and landlord insurance policy, offering New Zealand's fastest house insurance quotes.
  • All policies are underwritten by IAG, the owner of AMI, NZI and State Insurance, among others.
  • A focus on plain English insurance, fast quotes and easy-to-manage claims with technology to pay claims fast and easy to follow the progress of a claim with live updates
  • New Zealand-based phone, chat and email support.

To understand Inito's background and points of difference, our guide covers:

Initio's Claim Process

Initio puts the majority of its resource and energy into claims, and its online reviews suggest policyholders receive value when they need to claim. Initio offers the following:
  • Lodge claims 24/7 via an online dashboard
  • NZ-based team to guide customers through the process if needed
  • Customers are kept updated on how a claim is progressing
  • Instant payment of non-complex claims (e.g. glass damage, blocked pipe)
  • Dedicated claims advocate for larger claims (e.g. flood damage) 

How claims are lodged and progresses
  • Claims are lodged effortlessly through Initio’s dashboard. Initio empowers the customer by providing a digital process for claims lodgement. This process means that the loss is better-understood upfront, and customers are only asked questions relevant to their loss situation.
  • Real-time feedback is provided during the claim lodgement about excess and settlement, and for non-complex claims (like glass and blocked pipes) the claim is often paid that same day.
  • This article from Insurance Business (an insurance trade publication) explains more about Initio's location and technology focus.

What happens once the claim is lodged?
  • Once a claim is lodged, a confirmation email is provided, and the progress of the claim shows on the customer's personalised dashboard. Eg. “Glass repairer will be in contact today to arrange a time to visit”.  The customer receives an email notification when their is a claim update or change in status.
  • Importantly, every claim has a real person behind the scenes too. An Initio Claims Advocate is on hand to assist by phone or email for claims that require more personal interaction (e.g. major water damage).
  • For larger or more complex claims, Initio will engage an Assessor to visit the property and hatch a plan for repair. Some customers want to use their own builders, and per discussions with their claims team, Initio is supportive of this. Others want Initio to sort everything and return the property to its original condition.  In this case, Initio and the Assessor will project manage and appoint approved repairers to quote and scope the work. Then, in consultation with the customer, the repair work is undertaken. 

Know This: No matter the insurer or the event, every claim has unique circumstances. Per our observation of the insurance industry and how individual insurers operate, we believe Initio focuses on getting to the heart of a loss quickly and then providing comfort and confidence to the customer.

Initio - Company Details and Media Coverage

Initio is New Zealand’s first instant online home insurer. It was established in 2010 by two New Zealanders who wanted to provide upfront home insurance quotes without the need to ask irrelevant questions. Initio focuses on technology to assess risk - with only a property address, customers can obtain instant insurance quotes and then arrange insurance policies within minutes. Since its formation, Initio has grown to insure thousands of homes in every corner of New Zealand.

Initio's team is considered a go-to source of insurance-related news and knowledge, with recent articles including:
Initio, unlike other insurers, also publishes comprehensive reports and guides, including:

MoneyHub Founder Christopher Walsh Explains How Our Friends at Initio Offer Instant Risk Feedback and Insurance Quotes For Almost Every House in New Zealand:

Christopher Walsh
MoneyHub Founder
  • Empowered by Data: We trust Initio Insurance for transparent home insurance insights backed by robust data that other insurers can't match.
  • ​Instant Risk Assessment: Don't wait or wonder - the risks and costs are too high. With Initio, you can gauge your home's insurance risk in seconds. Simply enter your address and receive instant risk feedback and a quote.
  • Transparent Process: Instantly get a policy cost quote. While some cases might need more review, you are assured of accuracy and reliability.
  • Unparalleled Insight: Dive deep into Initio's unmatched property data. Whether you're a homeowner or a potential buyer, Initio enlightens you about your options and highlights potential concerns, such as flood or earthquake risks.
  • Trusted & Reliable: Besides being award-winning, Initio is backed by IAG (owners of AMI, State, and others) and offers exceptional NZ-based customer service.
  • Click here to get free instant risk feedback and a quote.

Initio - Pros and Cons

Pros:
  • Online ease - Initio uses technology to make policies clearer, easier and cheaper per our research into home and landlord insurance. Our view is that customers receive a seamless insurance-buying experience.
  • Instant quotes – Initio prides itself on providing the fastest quotes - our research confirms there are fewer questions and the overall experience is faster for obtaining quotes.
  • Risk feedback - Initio was invested in residential risk mapping technology, which allows more accurate quoting.
  • Online dashboard  - Initio's online focus allows customers to review, modify and start insurance.  Claims are lodged and progress is provided through the online dashboard. Customers have total control over their insurance.
  • Backed by a strong international insurer  - Initio is underwritten by IAG, the largest insurer in Australasia. IAG has a AA- Very Strong financial rating from Standard & Poors.
  • Claims - Customers can make a claim in seconds, and some claims are paid instantly.  Full customer support is provided on claims.
  • Real people (and no overseas call centres) - Initio doesn't outsource, and customers only deal with a member of their 100% New Zealand in-house team. This means they know you and your insurance requirements. 
  • Initio answers the phone – Unlike other insurers, there is no mass call centre, no holding etc. Initio prides itself on its customer-first approach, which looks after customers from day one of a policy to ensure a fast response time on claims.  

Cons:
  • No direct debit/credit payment option – due to its digital approach, you can only get insurance from Initio if you pay by credit card or by using Account2Account technology.
  • Car insurance for homeowners only – Initio is a dedicated property insurer so it only provides car insurance to home owners; quotes for car insurance are not offered online to non-Initio customers.
  • No standalone contents insurance – contents insurance can only be obtained when buying house insurance.
  • Extra questions for houses located in Wellington and Christchurch – getting insurance started for a house in these regions will require some additional information, and sometimes a report detailing the condition of the property.

How does Initio compare to other insurers?

MoneyHub extensively reviews and price-tests home insurance and landlord insurance policies. The best approach is to compare as many insurers as possible and consider following these suggested tips:
  • Choose a higher excess – don’t use insurance to claim for smaller losses, have it for the big stuff.  A $2,000 excess will significantly reduce your annual premium.
  • Pay premiums annually - paying monthly can increase your total annual insurance bill by up to 10%.
  • Reduce the risk of having to make a claim – Regular property maintenance, check under sinks for leaks, install WiFi-connected smoke alarms, and in the case of rental properties, do property inspections every three months, and vet the tenants carefully.

Important: Never try and reduce premiums by under-insuring your home or contents as it’s the total loss event where insurance really matters.
Related Guides