New Zealand

Introduction: 

New Zealand has a population of 4.5 million. Its currency is the New Zealand Dollar.

The life insurance segment suffers from an excessive dependency on government welfare schemes, and a general lack of awareness of the immediate benefits of insurance products compared to other investments.  As a result of this, life insurers have adopted multiple distribution channels to expand the segment and create awareness. The country’s aging population and insurers’ efforts to develop new products to meet changing consumer needs are expected to drive the life insurance segment growth in the coming years.

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