Finsure’s partnership with Australia’s first smart home insurance provider Honey Insurance is already proving a valuable partnership for both the broker network and customers in the six months since it was established.
CEO Simon Bednar said the partnership with Honey Insurance, whose offering is integrated into Finsure’s customer relationship management platform (CRM) Infynity, 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,” Mr Bednar said. “We’ve seen nearly 1 in 2 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.”
“The Finsure and Honey Insurance partnership is an Australian first that enables 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.”
Mr Bednar 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.
“More than 80% of settlements are delayed due to missing certificate of currencies and this document is a requirement for settlement,” Mr Bednar said. “By integrating the solution with Honey, Finsure is providing brokers and lenders with the opportunity to reduce these delays.
“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 3 minutes. Honey has been an ideal choice for Finsure as incumbents in this market lacked innovation. Honey offered a solution where the broker can offer their customers home and contents insurance via Infynity with complete integration.
“Honey is continually working with Finsure and our broker network to fine tune solutions and make it overall a better experience for broker and customer, while they can also offer our customers home technology which can help detect and alert to avoid fire, water damage and theft.”