In a bid to help its broker partners diversify their core services, Vow Financial has announced it will partner with Allianz Australia.
The agreement between Vow and Allianz, which was completed in May, will allow all of the aggregator’s brokers to offer housing-related insurance products to their clients.
Vow chief executive officer Tim Brown said in this flat market it was important to the aggregator to help its broker partners find an alternative source of income.
“Already a healthy percentage of our brokers are using Allianz, and we expect more to join up as they come to appreciate Allianz’s competitive offering in this market,” he said.
Allianz managing director Terry Towell said the company was pleased to partner with Vow and provide a general insurance solution for their network.
“Insurance is an important consideration when taking out a home loan. It is in both the broker’s and borrower’s best interest to put in place an appropriate insurance solution and ensure protection is in place. Allianz provides a simple, low touch insurance service that allows the broker to deepen their relationship with the customer, as well as earn additional income,” Mr Towell said.