Exploring Open Insurance for Aotearoa New Zealand

Exploring Open Insurance for Aotearoa New Zealand is the first paper in a series from Deloitte and InsurTech NZ investigating how New Zealand’s insurance ecosystem can proactively shape the future of Open Insurance.

Open Insurance refers to the secure, consent-based sharing of customers’ insurance data, giving customers greater control over their information and enabling insurers and ecosystem partners to deliver more relevant and personalised products and services.

Open Insurance creates value across the insurance ecosystem when designed well. The Use Cases section of the report outlines the impact Open Data made for the different members of the insurance ecosystem in various jurisdictions:

• For customers, it improves transparency, trust, and control over their data, enables a more holistic view of their financial wellbeing, reduces friction across claims, onboarding and servicing, and supports better advice and protection outcomes.
• For insurers, it reduces operational waste, informs product design, enriches customer insights and advice, accelerates technology modernisation, and enables participation in new distribution models and ecosystems while retaining relevance.
• For intermediaries and brokers, it enables lower-friction onboarding, more nuanced customer insights, improved advice quality, and more efficient servicing across the policy lifecycle.
• For ecosystem partners and innovators, it creates a secure foundation for new products, partnerships, embedded insurance propositions, and customer-centric services.
• For regulators and policymakers, it supports improved market transparency, competition, consumer outcomes, and data stewardship, while reducing system risk through clear standards and governance.

As Open Data regimes globally expand towards Open Finance, and New Zealand’s Consumer Data and Product Act 2025 reshapes financial services, the insurance sector is approaching a critical inflection point.

The choices made now will influence who controls customer relationships, how value is created and shared, and whether Open Insurance delivers meaningful outcomes for customers, insurers and the wider economy. This raises a critical strategic choice for insurers: engage early to shape Open Insurance in a way that delivers value locally for all ecosystem members, or wait until formal designation and risk the model being disintermediated in the meantime by third party aggregators with established Open Data capabilities.

Drawing on international experience, this paper explores how Open Insurance could evolve in Aotearoa New Zealand through examining use cases, key risks and strategic choices that insurers, intermediaries and broader ecosystem members need to consider to influence future outcomes.

This is the first in a series of papers exploring how Aotearoa New Zealand’s insurance ecosystem can enable Open Insurance. The series will progressively move from strategy into execution, with upcoming papers bridging ambition and action by outlining a practical, ecosystem level Blueprint for Open Insurance in New Zealand. Together, the series is designed to help industry leaders clarify intent, understand trade-offs and make informed, deliberate choices about how they engage with Open Insurance before those choices are constrained by external forces.

Download the paper to explore what Open Insurance could mean for your organisation, and the choices worth making now. Learn more about the findings from the paper at a dedicated Techweek event with Deloitte and InsurTech New Zealand.

This article was originally published at deloitte.com

Deloitte is the Principal Sponsor of Techweek NZ.