Login
ISCOVER
Since launching insurance through the mortgage broker channel in 2011, Allianz has significantly grown the business with a steady stream of new partners coming on board, writes the group's national manager of growth markets, Dan Tully.
To date we’ve had 15 aggregator groups join us, with Outsource Financial being the most recent partnership.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Over the past few years, the Australian property market has seen unprecedented growth, with brokers writing more loans than ever before.
By using the Allianz Referral Program model, brokers are able to extend their client relationships beyond writing the loan to helping provide protection for their customers’ most precious assets.
The program also provides the opportunity for brokers to diversify their business, which is easily integrated into the lending process.
Insurance products on offer
Home, landlord and motor insurance are the key insurance policies available through the broker channel. Three levels of cover are offered for home insurance, including Vital, Classic and Prestige. The first two are insured events policies and Prestige provides accidental damage cover.
Our landlord cover is specifically designed to protect investment properties and also provides the optional cover for rent default and theft by a tenant.
Finally, motor insurance is also available through the broker channel with cross-sell initiatives run throughout the year.
In addition, if a client purchases home insurance through the program and contacts us later to purchase motor insurance, we can add this to existing policy, meaning the broker can earn additional commission.
Strengthening client relationships
We believe that referring your customers to Allianz will create a positive experience in what can be a stressful time for them.
They’ll speak to highly trained, Australia-based insurance specialists who will be able to have a quality conversation with them about insurance.
We also allow customers to set up their policy up to 90 days in advance.
If purchasing insurance through the referral program, customers will also benefit from features such as up to 90 days’ free buildings cover during the settlement period.
Our team will also provide the broker with the certificate of insurance, meaning the loan process can progress without any delay.
The take-up by brokers
The take-up has been positive to date, with our partners playing a key role in promoting the Allianz Referral Program to their members and focusing on the benefits of diversifying their business.
The key benefit of the program is to make it easier for customers during the loan process.
Our quote-to-sale conversion rate is currently at 50 per cent and increases among brokers who have it integrated into their lending process.
