We all know Kiwi’s have a love affair with housing, and we are proud of our homeownership and fulfilling the property dream. At the same time, we can all recall the devastation of the Christchurch earthquake and are frequently reminded of the perils and hazards of living in beautiful Aotearoa. That is why it’s never been more crucial to understand how much a property will cost to reinstate and ensure we have adequate coverage.
In the aftermath of a devastating event that causes damage to your home, the last thing you want to discover is that your insurance does not cover enough to rebuild or repair to the same size or standard. This has always been a very confusing, time heavy, and manual process for homeowners as they try to work out rebuild amounts on extended insurance calculators built and designed offshore.
Following its success in transforming the mortgage valuation industry in New Zealand, Kiwi based Fintech company Valocity has now launched an innovative solution, myrebuild.co.nz, which has re-imagined the way homeowners and insurers calculate reinstatement (rebuild) insurance costs.
The myrebuild calculator uses dynamic data models that incorporate New Zealand’s unique environment, landscapes, building materials and other costs to help Kiwi homeowners determine the right rebuild value both faster and easier.
Valocity was uniquely positioned to solve this problem; combining their software development and technical capability with innovative industry partnerships, and having collaborated closely with the industry, launching with BNZ Bank.
Paul Carter, BNZ Chief Customer Officer, says, “Customers expect seamless digital experiences in nearly everything they do now, and banking is no different. At BNZ we’re focused on rising to meet those expectations, delivering fast and simple customer experience.”
“Valocity’s myrebuild helps us iron out what can be a tricky part of the home buying journey. Getting the right level of cover for your home is critically important, and existing solutions are very click-heavy experiences, demanding a lot of time and information from the customer. “
“myrebuild will allow our customers to simply and easily get their cover sorted, and we’re building it right into the digital journey. That means it’s one less thing to think about and one less task to complete, letting our customers focus on the joy and excitement of owning their new home.”
CEO and Founder of Valocity Carmen Vicelich says, “Valocity is uniquely placed to connect key insurance stakeholders, allowing banks and lenders to integrate directly with insurers and their customers.”
“This is another game-changer for the industry,” says Carmen Vicelich. “The Valocity team, along with our technology, innovation, and strategic partners, have collaborated to solve a complex problem, creating a more streamlined digital experience for customers. As homeowners, we all have the right to greater transparency and understanding around the insurance process, and we’re delighted to partner with the industry to deliver a new experience for New Zealanders.”
To find out more visit myrebuild.co.nz
About Valocity
Valocity is a New Zealand Fintech company with customers across New Zealand, Australia, Asia, and India.
Valocity connects the entire ecosystem of lenders, brokers, valuers, and their customers in One Smart Platform to streamline and automate the property valuation process for lending and insurance.
Valocity is a top 10 finalist at this year’s India Fintech Awards and was a top 10 finalist in the Global Fintech Awards at the 2018 Singapore Fintech Festival.
Founder and Global CEO Carmen Vicelich has been announced as a finalist in this year’s India Fintech Women of Influence awards and was a finalist in the recent New Zealand Women of Influence Awards.
For more information please visit valocityglobal.com