Insurtech Simfuni has been crowned fintech of the year in New Zealand.

The Auckland group’s premium payments platform was launched last July after it raised $NZ2.8 million ($2.6 million). It is designed to save brokers in Australia and New Zealand administrative time and cost and can integrate with any insurer, broker group or premium funder’s quoting and invoicing software.

“We’re really proud of how Simfuni is creating better outcomes for policyholders and back-office staff,” CEO and Co-Founder Shaun Quincey said. "Being recognised by the wider tech community is a real privilege.

Simfuni’s six software modules streamline digital payment management and “optimise the fragmented and labour-intensive processes of insurance billing, payments, reconciliation, customer service, arrears and renewals”. 

Clients include insurers, brokerages, third-party administrators and underwriting agencies. 

"We were impressed with the clear problem definition and value proposition from Simfuni,” FintechNZ awards judge Audrey Cheng said.

Last year, Simfuni was named Australian and New Zealand Institute of Insurance and Finance insurtech start-up of the year.