What Partners Life does

Partners Life is a New Zealand-domiciled life and health insurer, established in 2011 and headquartered in Takapuna, Auckland. It provides life cover, trauma cover, income protection (monthly disability cover encompassing income, mortgage protection and household expenses), private medical cover, specific injury cover and total and permanent disability cover to over 340,000 Kiwis. Distribution is exclusively through a network of independent financial advisers across New Zealand — there is no direct-to-consumer sales channel — with advisers providing tailored product selection and claims advocacy. The company is a subsidiary of Japan's Daiichi Life Group (since 2022) and holds an A (Excellent) financial strength rating with Stable Outlook from A.M. Best.

Revenue is generated from recurring, individual risk-based insurance premiums, typically billed monthly, with no publicly disclosed standard pricing tiers; quotes are obtained via advisers. The core operating technology is the proprietary Evince digital platform (launched 2019) supporting policy administration, claims processing, the My Partners Life adviser portal, OCR document extraction, and AI-enabled capabilities for query categorisation and prioritisation, medical-note summarisation, and personalised content generation. Underlying customer segments are individual Kiwis and families (primary), self-employed and small business owners, and the adviser distribution channel itself as a business segment.

The headcount is over 400 employees across New Zealand (as of 31 March 2025), annual premiums in force exceed NZ$653 million, and the company's operating philosophy is anchored on a 95% claims-paid rate (claims assessed between 1 April 2024 and 31 March 2025), supported by built-in customer relief features (premium holidays up to six months and policy suspensions up to 12 months) and an ANZIIF Life Insurance Company of the Year 2022 award alongside a consecutive five-star Lewers Insurance Benchmark Study rating since inception.

Name

Partners Life

Legal name

Partners Life Limited

Website

https://partnerslife.co.nz

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

251–500 employees

Short description

Partners Life is a New Zealand life and health insurer serving over 340,000 Kiwis exclusively through independent financial advisers, offering life, trauma, income protection, and private medical cover as a subsidiary of Daiichi Life Group.

Ownership category

akta.pro rank

Product category

Life and Health Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK)

Keywords

• Life insurance products
• Health insurance coverage
• Income protection insurance
• Trauma and disability cover
• Private medical insurance

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Others, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Life and Health Insurance Premiums: Partners Life generates revenue primarily through recurring insurance premiums paid by policyholders for life cover, trauma cover, income protection, private medical cover, specific injury cover, and total and permanent disability cover. Premiums are calculated based on individual risk factors including health, occupation, hobbies, and family medical history.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Partners Life underwrites and sells life and health insurance products to New Zealand individuals and families, including life cover, trauma cover, income protection, private medical cover, specific injury cover, total and permanent disability cover, and monthly disability covers. All products are distributed exclusively through a network of independent financial advisers who provide tailored advice, policy selection support, and claims advocacy to policyholders.

Product overview

Partners Life offers a portfolio of life and health insurance products sold exclusively through independent financial advisers. Its core product suite includes Private Medical Cover, Life Cover, Trauma Cover, Specific Injury Cover, Monthly Disability Cover (Income Cover, Mortgage Protection Cover, Household Expenses Cover), and Total and Permanent Disability Cover. These are coordinated under the Partners Life Journey Plan — a flexible framework allowing customers to tailor and expand coverage as their life stage and circumstances change. The portfolio also includes built-in policy support benefits such as Premium Holidays and Policy Suspensions for financial hardship. All products are underwritten by Partners Life, which operates as a licensed Financial Advice Provider and a member of the Daiichi Life Group.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Medical Cover Provides funds for quick access to and a choice of treatment in the private medical sector, covering major diagnostic tests, surgical treatments, hospital admission costs, and treatment for serious illnesses such as cancer. Designed for NZ individuals and families seeking private healthcare access.
• Life Cover Pays a lump sum benefit upon death or diagnosis of a terminal illness, usable to reduce debt, cover funeral expenses, manage living costs, or leave a legacy for dependents.
• Specific Injury Cover Pays a lump sum immediately upon suffering a listed injury with no waiting periods, no ongoing assessments, and no impact from ACC claims.
• Trauma Cover Provides a lump sum payment upon diagnosis of a covered serious condition such as cancer, heart attack, stroke, or loss of limbs, usable for time off work, expenses, or home modifications during recovery.
• Monthly Disability Cover (Income Cover, Mortgage Protection Cover, Household Expenses Cover) A suite of monthly benefit covers: Income Cover (replaces earned income), Mortgage Protection Cover (supports mortgage payments), and Household Expenses Cover (helps with everyday costs) when the policyholder cannot work due to illness or injury.
• Total and Permanent Disability (TPD) Cover Provides a lump sum payout if the policyholder suffers a life-changing disability from illness or injury, usable for home modifications, specialised equipment, care, or maintaining independence.
• Partners Life Journey Plan A comprehensive, flexible insurance planning framework bundling Medical Cover, Mortgage Cover, Income Cover, and other products under one plan with flexible options to adapt as life circumstances change.
• Mortgage Interruption Cover New cover type launched in 2016, providing financial support for mortgage obligations during specified events such as involuntary unemployment or disability preventing work.
• Terminal Illness Cover New cover launched in 2016, providing early lump sum payout upon diagnosis of a terminal illness to access funds while still alive, supplementing standard Life Cover.
• Life Interruption Cover New cover launched in 2016, providing financial protection for life events that interrupt income or financial stability.

Quantifiable outcome

• 95% of claims paid (assessed between 1 April 2024 and 31 March 2025)
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• BanqercoreGTM or Marketing Partner · 1 January 2025For the third consecutive year (2025), Partners Life partnered with Banqer to deliver the 'Money Month Challenge', providing free access to Banqer Beyond — an online financial literacy programme for adult New Zealanders. In 2025, 1,143 New Zealanders participated. 81% of survey respondents said the challenge improved their understanding of how savings and insurance work together. Kate Dron, Chief Customer Solutions Officer, stated the partnership aims to empower the community with financial know-how.
• Rainbow TickcoreOthers · 1 January 2019Partners Life achieved Rainbow Tick certification in December 2018 and remains certified through annual reassessment. The certification involves a full audit of policies and processes plus staff focus groups. Partners Life also sponsors the annual Rainbow Excellence Awards and created the 'Emerging Award' category to recognise organisations early in their diversity journey. The certification signals the company's commitment to LGBTQI inclusivity in the workplace.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• AIA Group: AIA Group is the Asia-Pacific life insurance giant and parent/major peer of AIA NZ. Comparable through scale, product breadth and multinational life and health insurance operations relevant to Partners Life's Daiichi-anchored strategy.

Emerging players

• Resolution Life: Resolution Life is a global life insurance consolidation specialist that has acquired NZ life blocks. Comparable in life insurance category and a potential future acquirer/partner in the NZ life insurance market.

Direct peers

• Accuro Health Insurance: Accuro is a New Zealand not-for-profit health insurer providing comprehensive medical cover. Direct competitor in the NZ private medical insurance market.
• Fidelity Life: Fidelity Life is a New Zealand life and health insurer offering life, trauma, disability and income protection products distributed through advisers. Operates in the same NZ market with overlapping product lines and similar adviser-led GTM.
• nib New Zealand: nib NZ offers health and private medical insurance products in New Zealand, competing directly with Partners Life's Private Medical Cover. Direct overlap in the health insurance segment of Partners Life's portfolio.
• Southern Cross: Southern Cross is a prominent NZ health insurer offering medical and related cover, frequently cited alongside Partners Life for private medical cover comparison. Closest competitor specifically in the private medical cover category.
• Asteron Life: Asteron Life (part of Suncorp NZ) is a major NZ life insurer distributing through financial advisers with comparable life, trauma, income protection and disability covers. Direct competitor on product suite and adviser-led distribution.
• AIA New Zealand: AIA NZ is one of the largest life and health insurers in New Zealand, offering life, trauma, income protection and medical cover through advisers and direct channels. It is the closest large-scale competitor to Partners Life across product portfolio, target customer and distribution model.

Regional players

• Cigna New Zealand: Cigna operates in NZ health and life insurance segments and shares the global Cigna insurance pedigree with Partners Life's new COO. Adjacent competitor with overlap in health/insurance cover for individuals and corporates in NZ.

Others

• Dai-ichi Life Insurance (Japan): Parent company of Partners Life via Daiichi Life Group; comparable as a global life insurance operator providing capital, reinsurance and product expertise to Partners Life. Not a competitor but a strategic enabler.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCL7k3SXcoey0SXSXxk1yc0A?pbjreload=10
• Facebookfacebook.com/partnerslifenz
• LinkedInlinkedin.com/company/partners-life
• Instagraminstagram.com/partnerslifenz

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Partners Life