Kaikoura earthquake payouts are progressing better than expected with 88 per cent of residential claims fully or partially settled, the Insurance Council says.
The settlement rate by the end of 2017 exceeded the council's earlier goal of clearing 70 per cent of residential claims by year's end.
"Thousands of people (have had) their claims assessed and settled much faster than we saw post-Canterbury earthquake," council chief executive Tim Grafton said.
He said settlements had been faster because insurers acted as agents for the Earthquake Commission and managed most residential building and content claims.
It was a model that should be rolled out for any future natural disasters, he said.
Total insured losses from the Kaikoura earthquake have now reached $2.14 billion, of which $631 million is from domestic claims.