The Insurance Council of New Zealand (ICNZ) is renewing its partnership with Banqer High, an online financial education tool for secondary students.
In a statement by ICNZ, it said that the most recent agreement formalises a long relationship between the two organisations, spanning back to 2015. The partnership helps young Kiwis grow their insurance literacy – a key part of their financial capabilities.
According to Banqer chief operating officer Simon Brown, students will learn about the importance of insurance through a series of simulated scenarios in the Banqer platform, as well as how to recognise risks and manage them. More than 5,000 students have used the platform to date.
“For example, if they’ve chosen to skip buying insurance and a flood hits their house in Banqer High, they’ll have to replace all of their contents while other classmates who did take out insurance have their contents replaced,” Brown said.
To help students further understand risk and how to protect themselves against it, ICNZ will also join Banqer in its Banqer Live! webinars that will run until June 18.
“As a part of the Banqer partnership whānau we’re committed to supporting a future where all Kiwi kids have access to quality financial education,” said ICNZ chief executive Tim Grafton.
“ICNZ has supported financial capability initiatives for many years. Our work with Banqer has reinforced how important it is to gain these skills while young – enabling informed financial and risk management decisions and creating a future generation of financially prepared Kiwis.”