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Six months into its partnership with insurance provider Honey, Finsure said it had been a “game changer” with referrals exceeding expectations.
Finsure Group (Finsure) partnered with the smart home insurance provider Honey Insurance (Honey), introducing Honey to the aggregator’s network of over 2,000 brokers, in a deal which it believes is an “Australian first”.
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The insurance offering is integrated into Finsure’s customer relationship management platform (CRM) Infynity, which Finsure chief executive Simon Bednar said had led to an increase in volumes of insurance referrals from Finsure brokers “exceeding expectations”.
The home insurance company, launched in June 2021 following a $15.5 million capital raising with investors that included property settlements platform PEXA and ZIP co-founder and global CEO Larry Diamond, and uses smart sensor technology to make “homes safer”.
For example, it offers customers home technology THAT can help detect and alert to avoid fire, water damage and theft.
The aggregator said the deal was already proving a “valuable partnership” for both the broker network and customers, with a take-up of nearly one in two customers progressing to a completed policy, once they have been provided with a quote from Honey.
In addition, Mr Bednar said broker registrations “continue to grow” with more than 30 per cent of the aggregator’s network registered with Honey.
“In the last four months the exclusive partnership between Finsure and Honey Insurance has resulted in a record take up with broker accreditations, and has been a big winner with their customers,” Mr Bednar said.
Mr Bednar said as the partnership enables customers to obtain their home insurance at the same time as they get their home loan, it is proving to be a “smarter, faster and easier” way for customers to get covered for home insurance.
In its latest announcement, Finsure said customers now have the option for Honey to send the certificate of currency electronically back into Infynity for the broker, who can then provide it to the lender as a supporting document.
Mr Bednar said given more than 80 per cent of settlements are delayed due to missing certificate of currencies, this will help reduce delays for brokers and lenders.
“This is a technology driven solution which provides customers with market leading service and allows customers to get insured in an industry leading time – under three minutes,” Mr Bednar said.
He said the insurance provider is offering a solution to brokers and their customers and is “continually working” with Finsure and our broker network to fine tune solutions and make it overall a better experience for broker and customers.
[Related: Finsure locks exclusive partnership with home insurance provider]
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