Honey partners with SFG

The smart home insurance provider’s partnership with Specialist Finance Group (SFG) is the latest move by Honey into the mortgage broking sector. The provider aims to support home buyers to settle into their new homes faster, and start proactively protecting their homes from settlement.

According to Honey, there has been an increased focus from lenders to offer differentiation through customer-centric operational efficiency.

The insurance provider stated that SFG has given it the tools to “drive the mortgage broking industry’s future” through settling customer contracts with insurtech technology, combined with its digital approach to home insurance.

VP of partnerships at Honey, Eoghan Trehy, stated it’s Honey’s mission to “provide a smarter, easier way for Australians to get covered for home insurance”.

“One of the things that excites us most about the Honey and SFG partnership is being able to extend this to the SFG broker network, who in turn will be able to provide additional value to their customers,” Mr Trehy said.

“We’re providing a simple & streamlined process for brokers to ensure their [clients’] loans settle without delay, something we know has been a pain point in the past.

“With Honey’s pricing agnostic approach the broker can offer the same price to their customers as they would get online which solidifies the value of this partnership.”

General manager from SFG, Blake Buchanan, said the aggregator is thrilled to increase the opportunities available to its brokers that help customers.

“Insurance is a crucial part of a consumer’s journey when seeking finance solutions and this partnership brings efficiencies and products that we have not seen in this space before,” Mr Buchanan said.

“SFG is proud to partner with Honey with a digital process that is embedded in our SFGconnect technology that makes the referral process simple with results available within minutes.”

Earlier this year, Honey entered a partnership with Finsure Group, introducing Honey to the aggregator’s network of over 2,000 brokers in a deal that it believed was an “Australian first”.

The insurance offering was 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 aggregator said at the time that the deal was already proving to be 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.

[RELATED: Finsure-Honey partnership ‘exceeds expectations’]

Written by Adrian Suljanovic

Last Updated: 15 September 2022

Published: 16 September 2022