Kiwi insurer Tower has today announced a new partnership with advisory firm, Kiwi Adviser Network (KAN) to simplify insurance referrals for advisers and deliver simple and rewarding experiences to customers.
KAN has relationships with 200 advisors and 20 New Zealand mortgage lenders and provides technology solutions that enable its advisers to grow their businesses and comply with relevant regulation and licensing.
Tower and KAN will work together to streamline all insurance referrals to KAN advisors, reducing complexity with Tower’s straightforward referral model and ensuring a specialist Tower adviser handles the insurance quote process from start to finish.
Tower MD Partnerships Jonathan Beale says, “We’re pleased to partner with KAN and join forces in offering Kiwis reliable and simple home loan and insurance options. 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.
KAN CEO Chuck Slogrove says, "This partnership provides our members with access to a range of high-quality insurance products, which can be offered to their clients. Referring fire and general insurance through Tower makes sense for a lot of financial advisers who specialise in other types of financial advice, but still want their clients to benefit from quality products and great service."
Mr Beale says this partnership is another example of businesses adapting to meet the Financial Services Legislation Amendment Act that came into effect on 15 March 2021. As part of this legislation, advisers can only provide counsel on areas they specialise in, meaning many home loan advisers need support to advise on insurance.
“Our advisers are experts in the insurance products we offer, and it’s important that everyone is having the conversations they’re qualified to have. For advisers, it’s a positive move – it makes things much simpler, and the level of service and the advice we can provide their customers makes partnering with Tower a no-brainer,” says Mr Beale.
Signing this new partnership KAN is another positive step forward for Tower’s partnerships advisory model with the growth of its network accelerating by 34% to 1,535 active advisors since November 2021.