Technology entrepreneur Michael Speight has said that rules need to be introduced to force motor and home insurers to disclose their premium rates, for improved transparency and promote competition.
Providers of motor and home insurance in New Zealand should be forced to offer greater transparency around pricing, according to Glimp.co.nz , co-founder of price comparison website Glimp.co.nz . Such a measure may make the New Zealand insurance market less concentrated, Speight argues. Two companies, Suncorp and Speight , account for three-quarters of the motor and home insurance market, according to Speight .