Tower and MTF Finance announce nationwide partnership
Kiwi insurer Tower and MTF Finance have today announced a partnership to make the purchase and insurance process easier and simpler than ever, for MTF Finance customers throughout New Zealand.
There are 51 MTF Finance franchises plus hundreds of MTF Finance certified dealerships across the country, servicing around 50,000 Kiwis each year with personal and automotive loans.
When customers take a loan with MTF Finance, the partnership with Tower will enable them to insure their new asset all in one seamless, hassle-free experience. For vehicles, this can be done before they drive it off the lot.
Tower Managing Director Partnerships Jonathan Beale says, Tower is thrilled to partner with MTF Finance at such a pivotal time for the motor industry as consumers make a rapid shift to more sustainable vehicle models.
“We are certainly starting to see the effects of the Clean Car Scheme at Tower, with the number of EVs we insure growing by 78% throughout 2022. Nationally, new EV registrations doubled in the third quarter this year compared to the average over the previous four, and EVs and Hybrids now make up 40% of New Zealand’s top selling models.
“We are excited to join forces with MTF, as a business that also understands modern customer expectations, to offer beautifully simple and rewarding insurance experience to our customers.”
MTF Finance customers can now access Tower products in three ways; an insurance referral by MTF Finance where a Tower team member will call the customer that same day, a direct call via the franchise where a customer can speak to Tower there and then on the phone, or via a special online portal only available to MTF Finance customers.
MTF Finance customers will also have access to Tower’s industry leading My Tower platform, where they can update, claim on and manage their insurance quickly online.
MTF Finance CEO Chris Lamers says, “we are delighted to work with Tower to offer a wider range of insurances in a seamless manner. Both companies are locally owned and operated and share a passion for helping New Zealanders.”
“As MTF accelerates its growth we are working with partners to add more ways we can assist our customers, and insurance is a key priority for us. We want to ensure that when someone is borrowing money to buy a specific asset, they have the right protection in place for that asset.”
In October, Tower was crowned Canstar Car Insurer of the Year for 2022, for the second year in a row. Tower also won a Canstar 2022 Outstanding Value Car Insurance Awards - again, for the second year running.
In addition to an award-winning motor insurance product, Tower’s complete product suite will be available to MTF Finance customers, including home and contents, a unique offering given the crossover between the two businesses. MTF Finance finances motorcycles, boats, jet skis, caravans, motorhomes, home improvements and travel - all things Tower insures.
“Combined, Tower and MTF have more than 200 years’ experience helping Kiwis purchase and protect the things that matter most to them,” says Beale.
“Tower’s focus on innovation and investment in large-scale digital transformation has enabled the business to keep pace with changing customer needs. This partnership is a great fit. Together, we’re making it even easier for people to insure their vehicles, boats, motorhomes and more.”