Tower has signed two agreements in quick succession – with advisory firm Kiwi Adviser Network (KAN) and with Ray White to debut its Concierge service in New Zealand.
The partnership with KAN seeks to simplify insurance referrals for advisers and deliver simple and rewarding experiences to customers. Tower will work with KAN, which has relationships with 200 advisers and 20 mortgage lenders in New Zealand, to direct all insurance referrals from KAN advisors. The move aims to reduce complexity with Tower’s straightforward referral model and ensure that a specialist Tower adviser handles the insurance quote process from start to finish.
“We’re pleased to partner with KAN and join forces in offering Kiwis reliable and simple home loan and insurance options,” said Jonathan Beale, Tower managing director for partnerships. “At Tower, we’re relentlessly focused on delivering a rewarding experience for our customers and are thrilled to extend this offering to KAN’s advisors and their customers.”
According to Beale, the partnership is an example of businesses adapting to meet the Financial Services Legislation Amendment Act, which came into effect on March 15. The legislation states that advisers can only provide counsel on areas they specialise in, meaning many home loan advisers need support to advise on insurance.
Tower’s partnership with Ray White comes ahead of the launch of the latter’s Concierge service, which helps customers purchase home and contents insurance, book a tradesperson, and buy discounted art. The service is slated to launch in New Zealand next month.
The tie-up will give Ray White customers access to the MyTower platform, where customers can update, claim on and manage their insurance online.
Ray White Concierge CEO Kelly Tatlow said the business had been growing and innovating for 16 years in Australia in response to changing customer expectations, marketplace changes and the group’s passion for innovation.
“No other real estate group has been able to achieve the scale and the depth of services designed and delivered internally that Concierge enables,” Tatlow said. “Given the current market, now is the perfect time to launch Ray White’s insurance and moving solutions to New Zealand buyers as well as to tenants, investors and sellers moving into another property.”
Ray White customers who sign up with Tower can receive discounts at major retailers, including Bunnings, Noel Leeming and Torpedo7.
“We’re making it even easier for people to insure their home during this process and make sure they have the right insurance for their needs,” Beale said. “The partnership between Tower and Ray White will keep things as simple as possible for customers, so they can get into their new home smoothly.”
