Finsure has partnered with Australia’s first smart home insurance provider Honey, in a deal which the aggregator says will provide plenty of value for its broker network.
Honey is a home insurance company which uses smart technology and claims it has reimagined home insurance by investing in making its clients homes safer every day.
Finsure CEO Simon Bednar (pictured above) said the partnership with Honey had been a game changer for both parties with the volume of insurance referrals from Finsure brokers exceeding expectations.
“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,” Bednar said.
“We’ve seen nearly one in two customers progress to a completed policy once they have been provided with a quote from Honey, whilst broker registrations continue to grow with more than 30% of our network registered with Honey already.”
Bednar said Honey’s platform was seamlessly integrated into its Infynity CRM.
“It enables brokers to provide customers with an insurance policy in a few minutes,” he said. “Honey Insurance has achieved outstanding results since it was launched in June last year. We are delighted to have partnered with Honey as the results after the first six months are well beyond our expectations.”
Bednar said the partnership was an Australian first that enabled customers to obtain their home insurance at the same time as they get their home loan via an embedded journey.
“It is proving to be a smarter, faster and easier way for customers to get covered for home insurance,” he said. “In another industry first, customers now have the option for Honey to send the Certificate of Currency electronically back into Infynity for the broker, who can then in turn provide it to the lender as a supporting document.”
Bednar said more than 80% of settlements were delayed due to missing certificate of currencies, a required document for property settlements.
“By integrating the solution with Honey, Finsure is providing brokers and lenders with the opportunity to reduce these delays,” he said.
“This is a technology-driven solution which provides customers with market-leading service and allows customers to get insured in under three minutes. Honey has been an ideal choice for Finsure as incumbents in this market lacked innovation and it offered a solution where the broker can offer their customers home and contents insurance via Infynity with complete integration.”
Bednar said Honey was continually working with Finsure and its broker network to fine tune solutions to make it overall a better experience for broker and customer.
“They can also offer our customers home technology which can help detect and alert to avoid fire, water damage and theft,” he said. “Finsure has an exclusive relationship with Honey and given the success of this partnership, we don’t see that changing.”
