Category: Analysis

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BNZ offers support for Otago customers affected by severe rainfall  

Source: BNZ statements

BNZ is offering an assistance package to customers affected by severe rainfall in the Otago region.  

Available immediately, the assistance package includes:  

  • Ability to review home lending facilities on a case-by-case basis. 
  • Access to temporary personal overdrafts to support customers who require access to funds urgently while they await insurance pay-outs. Standard interest rates and credit criteria applies. 
  • Access to temporary overdrafts of up to $10,000 with no application fee for Small Business customers. Standard interest rates and credit criteria applies. 
  • Access to temporary overdrafts for Agri, Business, and Commercial customers up to $100,000, with no application fee. Standard interest rates and credit criteria applies. 

“We understand the challenges that can be posed to households, businesses and communities as a result of severe weather events,” says Anna Flower, BNZ Executive Personal and Business Banking. 

“We’ve put together a range of practical support options to help ease some of the immediate financial pressure our customers might be facing. 

“We also have a range of other options available, especially for customers who are facing hardship, so I encourage people to get in touch so we can see how we can help,” says Flower. 

To discuss support options, business and agribusiness customers should reach out to their BNZ Partner. Small business owners can call 0800 BNZSME, while personal banking customers can access support through BNZ’s digital platforms or by calling 0800 ASKBNZ. 

BNZ PremierCare Insurance customers who need assistance can call IAG NZ on 0800 248 888 or submit an online claim https://iagnz.custhelp.com/app/bnz  

With local authorities in Otago, including Civil Defence, advising locals to avoid any unnecessary travel, BNZ is temporarily closing its Dunedin branches and Partner Centre. 

“It’s important that our customers and our BNZers stay safe. Our teams in Dunedin can work from home and our people who would normally be working in our branches will instead be available to support customers via telephone banking and they continue to do their banking online or through our BNZ app,” says Flower.  

BNZ’s ATM network in the affected areas remains operational, ensuring customers have continued access to cash and basic banking services. 

Customers can check whether their local BNZ branch is open here: www.bnz.co.nz/locations 

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Education key to open banking success, BNZ survey finds

Source: BNZ statements

While many New Zealanders have heard of open banking, few understand its benefits, according to new research from BNZ.*

Open banking gives bank customers the power to control and securely share their financial data with trusted third parties like fintechs.

Access to that data means banks and fintechs can create highly tailored products and services, such as apps that offer insights into spending habits, budget planning and savings goals, or that instantly share financial information with multiple lenders, making it easier and faster to apply for a loan.

“Our survey found that while 60% of respondents have heard of open banking, only a quarter (26%) have some understanding of what it means,” says Karna Luke, BNZ Executive, Customer Products and Services.

“However, after learning more about its capabilities, nearly three-quarters (73%) expressed an interest in using open banking services.

“This shows that New Zealanders are very open to new ways of managing their finances but need the right information to feel confident about using the technology,” says Luke.

The survey also shed light on some risky practices highlighting a need for greater education. Two-thirds (66%) of respondents reported having used payment services that rely on screen scraping. This practice puts users’ data at risk by requiring them to share their online banking login credentials with third parties to access certain services.

“Open banking provides a safe and secure way to share your financial data with trusted third parties without ever having to disclose your banking login details. It’s much more secure than screen scraping, but our survey shows a big gap between awareness and understanding of open banking’s benefits, particularly around security,” says Luke.

Bridging the knowledge gap

Luke says education is key to building the trust and confidence needed to drive greater adoption of open banking and realise its benefits.

“At BNZ, we’ve been collaborating with fintechs since 2018 to develop innovative products and services that showcase open banking’s potential, and we’ve developed content and resources to inform and engage our customers about the benefits. Already, more than 250,000 BNZ customers are using apps and other services made possible through open banking.”

“While we’ve made good progress, there’s still more work to be done to educate New Zealanders about the benefits of open banking and build trust in its capabilities. This will be crucial to ensure that everyone can take advantage of the huge potential open banking offers.”

Luke highlighted the importance of the Consumer Data Right (CDR), which is currently progressing through Parliament as part of the Customer and Product Data Bill. The CDR sets rules around how customer data is shared and managed and ensures legal safeguards are in place to protect New Zealanders.

“While banks have been working hard to build the technology needed for open banking, the CDR will provide the rules and protections necessary to ensure people feel secure and confident using these new services,” Luke says.

“The Government’s commitment to investigate opportunities for early adoption of open banking by government agencies, in line with recommendations from the Commerce Commission, is also a welcome move which could significantly boost public trust and understanding.

“We’re committed to working alongside regulators and the wider industry to ensure that open banking delivers on its promise of greater financial empowerment and choice for all New Zealanders.”

For more information about open banking and BNZ’s initiatives, visit bnz.co.nz/openbanking.

*Source:  BNZ Voice customer panel survey, 18th to 28th July 2024. Total responses: n=355. The profile of participating customers was not controlled for this survey.

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To celebrate the BNZ Kāhu making women’s sporting history, BNZ gifts home game tickets to fans

Source: BNZ statements

BNZ says “To celebrate the BNZ Kāhu making women’s sporting history, it’s our shout.”

Less than a week before women’s basketball season tips off, in a bid to increase access to the hotly contested Tauihi season, BNZ has announced that BNZ Kāhu fans attending home games in Auckland and Whangārei won’t have to pay for general admission tickets.

Last week, the championship franchise revealed BNZ Kāhu’s all-female ownership team of Jo Caird, Jody Cameron, “Georgie” Paula George, Rachel Howard, and Dani Marshall, making New Zealand’s top women’s basketball team the first sports team in the world to be fully owned, managed, and coached by women.

“The feedback we have been getting from across Aotearoa New Zealand has been extraordinary. Our mission is to celebrate and grow our passionate community of fans by making women’s sports more accessible and family-friendly,” says co-owner Jo Caird.

“That all starts at home, where we want our fans to turn Eventfinda Stadium and Whangārei McKay Stadium Kensington into our fortresses. And what better way than a sold-out stadium stacked with screaming BNZ Kāhu fans,” says co-owner “Georgie” Paula George.

Starting this Sunday, when BNZ Kāhu hosts Dunedin’s Southern Hoiho for the first game of the season, BNZ Kāhu fans will be “shouted” their tickets by the team’s naming sponsor, Bank of New Zealand.

“We were already absolutely stoked to have BNZ as a key partner and supporter. And we were committed to welcoming overlooked communities and reimagining the possibilities. Turning that commitment into a reality is so much easier when you have partners like the team at BNZ who believe with you,” says co-owner Dani Marshall.

“It’s an absolute no-brainer,” says BNZ’s Executive Corporate and Institutional Banking Penny Ford.

“What better way to celebrate this groundbreaking team of leaders than by giving them and the brilliant players they support a home stadium filled with passionate fans – all season long,” she says.

BNZ Kāhu fans who have already purchased general admission tickets will have the option to refund their purchase price or transfer that purchase into admission into a brand-new Kāhu Supporters Club.

“Those early bird ticket holders will be some of our most passionate fans. We can’t wait to see them on Sunday,” says co-owner and coach Jody Cameron.

  • Sunday 6 October – BNZ Kāhu hosts Southern Hoiho at Eventfinda Stadium.
  • General Admission tickets to six BNZ Kāhu regular-season home games will be available for free at www.eventfinda.co.nz starting Tuesday 1 October.

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BNZ the first NZ bank to achieve next open banking (open data) milestone

Source: BNZ statements

Bank of New Zealand (BNZ) has taken another critical step toward open banking—better described as open data—becoming the first bank in New Zealand to meet a major milestone set by Payments NZ.

BNZ has implemented the Payments NZ Account Information API v2.1 standards, which when open banking is fully operational, will enable New Zealanders to safely and securely share their financial information with approved providers.

“While it sounds a little dull, API v2.1 is really the engine room of open data. It’s the piece of the tech puzzle that means our customers have full control over what data they share, who they share it with and importantly, it gives them control to stop sharing their data too,” says Karna Luke, BNZ’s Executive of Customer Products and Services.

Payments NZ plays a key role in establishing the open banking system and has set New Zealand’s major banks the task of implementing Account Information API v2.1 standards by November this year. This follows the May 2024 requirement for major banks to support payments via APIs, enabling direct account payments through third-party apps. BNZ achieved this in 2023.

“That we’ve been able to reach this milestone three months ahead of the deadline reflects the commitment that BNZ has made to support the implementation of open banking. Over 250,000 BNZ customers are already benefitting from innovative services made possible through this technology, including services from Xero, Volley, and Blinkpay, all of which connect to BNZ through secure APIs,” says Luke.

What it all means for customers

This secure access to real-time financial data empowers third-party providers and fintechs to provide customers with new, innovative, and highly personalised financial products and services. Potential use cases include:

  • Personalised budgeting tools: Apps that offer tailored budgeting advice based on real-time financial data and spending habits, helping users manage their finances more effectively.
  • Customised savings plans: Solutions that design personalised savings plans and automate transfers based on users’ financial behaviour and goals.
  • Advanced financial insights: Tools that provide detailed analysis of spending patterns and identify new financial opportunities, enhancing users’ understanding of their financial situation.
  • Streamlined loan applications: More efficient loan processes that simplify and speed up approval by leveraging comprehensive account information.
  • Fraud detection and prevention: Facilitating third party apps or services to use real-time account data to identify unusual activity, improving security.

“Being the first bank in New Zealand to deliver this API demonstrates our focus on helping drive the future of open banking in New Zealand,” says Luke.

“We’re excited to see more fintechs and developers join those we’re already working with to leverage this technology to create innovative solutions that will benefit our customers and the country.”

“It’s also important to remember that banking services are just the beginning. The Customer and Product Data Bill currently progressing through Parliament will establish a Consumer Data Right (CDR) in New Zealand, enabling open data sharing across multiple sectors.”

This will further unlock digital innovation, making it possible to do things like instantly and securely verifying your identity online, via the information held about you by your bank, insurer or power company, or finding the best deal across utility or insurance companies and switching easily.

For more information about the Account Information API v2.1 and its capabilities, please visit https://developer.bnz.co.nz/

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BNZ and Adminis sign API agreement to streamline foreign exchange in NZ banking first

Source: BNZ statements

In a move to enhance access to foreign exchange markets, Wellington-based fintech Adminis has signed an API agreement with BNZ—the first bank in New Zealand to offer an FX dealing API.

An API, or Application Programming Interface, is a secure tool that allows different software programmes to connect and share information automatically. With this agreement, Adminis customers can access BNZ’s comprehensive foreign exchange services directly from the Adminis platform.

Customers can exchange currencies in real-time and execute transactions almost instantly, lock in future rates to protect against market volatility, and put their funds to work quickly and securely, without delays from manual processing.

The agreement also provides continuous access to international markets, operating 24 hours a day, 5.5 days a week – from the opening of the Wellington market to the close of New York. This means Adminis customers can trade currencies and manage risks even when local markets, such as those in New Zealand, are closed overnight. This access spans major FX markets across the USA, Europe, and Asia.

Adminis CEO, Matan Gan-El, says, “We are excited to work with BNZ to bring this innovative solution to our platform, which supports over $11 billion in funds under administration for our clients. This agreement will enable our clients to streamline their foreign exchange transactions, optimise risk management, and make more informed decisions when investing and rebalancing their portfolios.

“The API integration will not only make it easy to automate foreign exchange transactions based on predefined criteria, but also facilitate locking in exchange rates through Forward Exchange Contracts, improving the speed and accuracy of deal booking while managing currency fluctuation risks.”

BNZ’s General Manager of Markets, Philippa Fourbet, says, “We’re proud to be the first bank in the country to offer an FX dealing API. Since 2018, BNZ has been at the forefront of API development in the banking sector, with more than 250,000 customers already benefitting from innovative products and services unlocked by this technology.

“This collaboration reflects our focus on using the latest technology to deliver tangible benefits for New Zealanders and businesses. We’re thrilled to be making it easier for businesses to manage their FX transactions, saving them valuable time and resources.”

For more information on BNZ’s APIs, please visit BNZ APIs – BNZ.

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BNZ simplifies home loan offering, delivering savings for first home buyers and low equity borrowers

Source: BNZ statements

In a move that will make borrowing simpler and more affordable for first home buyers and low equity borrowers, Bank of New Zealand (BNZ) today announced changes to its home loan offerings.

In addition to a raft of home lending interest rate reductions this morning, BNZ is moving to a single set of home loan fixed interest rates, simplifying its previous two-tier structure of Classic and Standard rates. This change removes the previous 0.60% difference in the rates available to borrowers with less than 20% equity.

New borrowers with less than 20% equity will benefit from the lower Standard fixed interest rates, resulting in reduced overall borrowing costs for these customers. Low equity premiums will continue to apply based on individual customers’ equity positions.

BNZ Executive Customer Products and Services Karna Luke says these changes will make a real difference for many New Zealanders.

“The simpler home loan rates mean that all customers will be able to access our best home loan rates, even if they don’t have 20% equity.

For example, a first home buyer borrowing $500,000 with a 15% deposit on a 30-year term would save $78 per fortnight based on the current 1-year fixed rate advertised on the BNZ website*. Over a 1-year fixed term, this amounts to savings of more than $2,000.

“These changes reflect our commitment to growing the long-term financial wellbeing of all New Zealanders,” says Luke.

“By making home loans simpler, we aim to help more Kiwis to achieve their home ownership aspirations.”

The new pricing takes effect from today for new customers and will apply to existing low equity customers when they next refix their home loan.

*1 year interest rate of 6.55% as of 20 August 2024.

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The economy in ten pics

Source: BNZ statements

  • RBNZ kickstarts the easing cycle
  • Greenlights a slow ‘n’ steady downtrend
  • Helps the 2025 economic outlook, but near-term growth picture still troubled
  • With labour market to weaken further
  • Housing market in focus

 

View PDF here

 

Chart 1: So it begins

There was nothing in the Reserve Bank’s (RBNZ) announcement to greatly challenge our view of the world. The Official Cash Rate (OCR) was lowered 25bps to 5.25% as we expected. The interest rate brake is still on, just less so than before.

The most important aspect of the meeting in our view was the confirmation that the OCR will move a lot lower over the coming 18 months.

It needs to. Our rough estimate of the ‘real’ (inflation-adjusted) cash rate has increased in recent months, even with this week’s cut. And it’s a long way down for the OCR to the RBNZ’s estimate of the long-run neutral rate around 3%.

Chart 2: Chop

The RBNZ’s updated forecasts were a shadow of their former selves. GDP growth, inflation and OCR forecasts got a chop while unemployment rate expectations were lifted ½% or so to a 5½% peak.

This brings the RBNZ’s view of the economy down to, or even a touch weaker than, where we’ve been seeing things. Importantly, CPI inflation is now seen well inside the 1-3% target range in Q3 (2.3%y/y from 3.0% in May). As of yesterday, we concur.

It means there’s a higher hurdle for incoming data to surprise the RBNZ on the downside. That doesn’t rule out a larger 50bps OCR cut being deployed at some point, but it does lean against the possibility in the short term.

Chart 3: Joining the rate race

Having been something of an outlier for a while, NZ is now back in the policy easing peloton. Most developed markets anticipate sizeable interest rate cuts over the coming 12 months.

Markets price a better than even chance of a 50bp start to the US Federal Reserve’s easing cycle next month which, if delivered, may embolden global rate cut pricing further.

Of those markets covered opposite, implied policy easing to February 2025 is most aggressive for the US (-185bps), NZ (-150bps), and Canada (-130bps), with Australia (-65bps) and Japan (+10bps) at the other end of the field.

Chart 4: US sniffles

Global financial markets have recovered much of their poise following the steep equity market declines of early last week. Sentiment is not what it was though. Investors are suddenly alert to any number of global fragilities.

Most of the ‘blame’ for the wobble has been pinned on cooling tech/AI exuberance and US growth concerns. The outsized reaction last week may reflect the additional, creeping reliance on the US to drive the global expansion this year. The old ‘US catches a cold’ adage is still relevant.

Chart 5: Jobs growth stalled

The number of people employed nudged up 0.4% in the June quarter, according to official figures released last week. We’d pencilled in a small decline. Unemployment still rose to 4.6% as expected.

Q2’s employment kick is unlikely to be repeated this quarter, and it also doesn’t change the broader narrative of jobs growth effectively stalling around mid-2023.

Amongst the sectoral detail, it’s clear that the construction sector has been at the vanguard of the changing employment market.

Chart 6: Relocating for work

The lift in NZ’s unemployment rate in Q2 maintained a ½ percentage point gap to the (4.1%) Aussie equivalent.

It doesn’t sound large, but that gap is the widest since 2013. Not coincidentally, net migration outflows to Australia are also running at the strongest level since 2013. People move to where the jobs are.

Our forecasts imply both trends have got a ways to run. A climb in the NZ unemployment rate to a 5.5% peak in early 2025 against a lower (4.6%) peak in Australia would, on past form, be consistent with an acceleration in net outflows.

Chart 7: Green f(lags)

Wage inflation peaked in NZ about a year ago. We saw another notch in the downtrend last week. The private sector Labour Cost Index eased to 3.6%y/y in June, down from 3.8% the prior quarter and the 4.5% peak.

More of the same easing is expected over the coming 12 months. It’s something that should help drain still-elevated domestic services inflation pressure. So, it’s not that high interest rates have been ineffective on non-tradables inflation, it’s that the impacts take time to turn up. The lags are real!

Chart 8: No retail respite

The trend in NZ retail card spending abruptly turned in early 2023, and it’s been downhill ever since. July’s 0.1%m/m contraction was the 6th consecutive monthly decline. Discretionary categories remain the hardest hit.

The weakness is even more pronounced once buoyant population growth is accounted for. Our estimate of the average monthly spend per (working age) person is 8% below March 2023 levels. It’s a deeper and longer contraction than during the 2008 GFC.

We’re hopeful the downtrend soon stabilises. Tax and interest rate cuts are supports, but falling population growth and job security are not.

Chart 9: Housing market in focus

The release of July REINZ housing market numbers has been shunted out to Tuesday, thus missing the cut for this edition of TEITC.

But, it’s fair to say, housing stats will be watched more closely than usual as folk scour for green shoots in a sector likely to be one of the earlier responders to (recent and expected) falls in retail interest rates. There are stirrings in some of the anecdote and surveys, but we think the prognosis is more stabilisation than acceleration, for now.

In the least, we’d expect a hearty bounce-back in July sales activity following the outsized, Matariki holiday-related, drop in June. That’s what we saw from this week’s Barfoot & Thompson figures covering a share of the Auckland market.

Chart 10: Food for thought

Food prices lifted 0.4%m/m (seasonally adjusted) in July. Prices have been flattish for the past year, but they’re still up 24% on 2020 levels.

As you’d expect, there’s been a fair bit of variation amongst the components over that time. If you’re partial to an omelette and/or yogurt for breakfast you will be feeling the pinch a lot more than some. At least your morning brew is still, relatively speaking, cost effective.

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Disclaimer: This publication has been produced by Bank of New Zealand (BNZ). This publication accurately reflects the personal views of the author about the subject matters discussed, and is based upon sources reasonably believed to be reliable and accurate. The views of the author do not necessarily reflect the views of BNZ. No part of the compensation of the author was, is, or will be, directly or indirectly, related to any specific recommendations or views expressed. The information in this publication is solely for information purposes and is not intended to be financial advice. If you need help, please contact BNZ or your financial adviser. Any statements as to past performance do not represent future performance, and no statements as to future matters are guaranteed to be accurate or reliable. To the maximum extent permissible by law, neither BNZ nor any person involved in this publication accepts any liability for any loss or damage whatsoever which may directly or indirectly result from any, opinion, information, representation or omission, whether negligent or otherwise, contained in this publication.

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Money Month 2024: BNZ survey reveals retirement concerns

Source: BNZ statements

A BNZ survey has highlighted the importance of financial education as Sorted Money Month 2024 begins. Coordinated by Te Ara Ahunga Ora Retirement Commission, the annual campaign aims to equip New Zealanders with education, resources, and tools to better navigate their financial journey.

The survey* uncovered some significant concerns about retirement preparedness:

  • Nearly four in ten (39%) respondents aren’t confident they’ll have saved enough for retirement
  • One quarter lacked confidence in making investment decisions, with younger people (aged 25-44), lower-income households, and non-homeowners particularly affected
  • 74% felt they can’t rely on NZ Super for their retirement, including those who believed it won’t provide sufficient income, or had concerns it may change in the future

Anna Flower, Executive, Personal and Business Banking at BNZ, says, “These findings highlight the importance of financial education and early planning. Money Month is an opportunity for people to take that crucial first step towards financial preparedness.”

Continuing and building on last year’s theme “Pause. Get sorted,” Money Month 2024 focuses on actions to help people grow their money and build resilience.

“Understanding concepts like compounding interest and starting your savings journey early – even with small, regular amounts – can significantly enhance financial outcomes,” Flower says.

The survey also highlighted KiwiSaver’s role in long-term financial health, with 89% of respondents enrolled. However, 16% revealed they aren’t making regular contributions, highlighting the need for ongoing education and engagement.

“People think investing is for the wealthy, but investing is for everyone, and KiwiSaver is the easiest and most accessible way to get started,” Flower says.

“For those not contributing, it’s important to understand that you could be leaving money on the table. With KiwiSaver, in addition to your own savings, you can benefit from both government and employer contributions. These additional contributions can make a real difference to your savings over time, helping put you in a much stronger position for retirement or buying your first home.”

Supporting your goals

While Money Month shines a spotlight on financial health, BNZ is committed to supporting financial wellbeing throughout the year.

“Our free Banking Reviews are designed to align customers’ banking with their financial goals and enhance their overall financial health,” Flower says.

These reviews involve building a comprehensive understanding of an individual’s financial goals and needs – from day-to-day transactions to borrowing, investments, and insurance. This holistic approach allows for tailored advice and personalised recommendations to support overall financial health.

“Our experts are always here to discuss your savings goals, advise on home loans, or help you use our BNZ KiwiSaver Scheme Navigator to understand how to get on track with your retirement savings. These reviews ensure that banking solutions work for what’s important to customers now and in the future,” she says.

In addition, BNZ offers a range of online tools and resources to help New Zealanders take control of their finances. The BNZ app’s Activity tab enables customers to track their spending, categorise transactions, and manage cashflow across personal accounts. For homeowners, the MyProperty tool provides insights into home loans, allowing users to explore scenarios like changing repayments or assessing the impact of different interest rates and what impact this may have on their mortgage free date. These digital tools, along with comprehensive calculators and other resources, support customers in making informed financial decisions.

“Don’t let another year pass without taking charge of your financial future. Whether you’re just starting out or looking to optimise your investments for retirement, now is the time to act. Small steps today, like ensuring you’re making the most of your KiwiSaver or booking a Banking Review, can lead to meaningful improvements in your financial well-being tomorrow.”

For more information on Money Month initiatives and to access financial resources, visit www.sorted.org.nz

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BNZ welcomes changes to affordability rules

Source: BNZ statements

BNZ welcomes changes to the Credit Contracts and Consumer Finance Regulations and an update to the Responsible Lending Code.

The changes, announced by Commerce and Consumer Affairs Minister Andrew Bayly, are designed to give lenders more flexibility in how they assess consumer loan affordability, while still ensuring responsible lending practices.

James Leydon, GM Home Lending Product says, “At BNZ, we’re committed to supporting our customers’ financial aspirations. Whether you’re buying your first home, upsizing for a growing family, or undertaking your dream reno, we’ll be able to assess your loan application with more flexibility, in line with the updated Responsible Lending Code.

“By giving lenders more flexibility in assessing loan affordability, we can better serve New Zealanders. This approach ensures that creditworthy customers aren’t unnecessarily held back by prescriptive affordability requirements. This will help unlock opportunities for many, without compromising our responsible lending obligations.

“We look forward to implementing these changes promptly when they take effect on July 31st, ensuring our customers can benefit from a more streamlined lending process as soon as possible.”

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BNZ offers support for East Coast and Hawke’s Bay customers impacted by severe weather

Source: BNZ statements

BNZ is offering targeted support for customers affected by severe weather and flooding in Hawke’s Bay and the East Coast.

“We recognise that some of our customers may be facing unexpected challenges due to the severe weather,” says Anna Flower, BNZ Executive Personal and Business Banking.

“As they focus on the clean-up and recovery, we want to offer practical support to help relieve some of the financial pressure during this time.”

Available immediately, BNZ is offering a range of targeted assistance options for affected customers on a case-by-case basis, from access to temporary overdrafts for both personal and business customers to the ability to review home lending facilities.

“There are also a range of other options available, especially for customers who are facing hardship, so I encourage people to get in touch so we can see how we can help,” she said.

Business and agribusiness customers should reach out to their BNZ Partner. Small business owners can call 0800 BNZSME, while personal banking customers can access support through BNZ’s digital platforms or by calling 0800 ASKBNZ.

BNZ PremierCare Insurance customers who need assistance can call IAG NZ on 0800 248 888 or submit an online claim https://iagnz.custhelp.com/app/bnz

 

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