Techweek2021 advocate partner, Tower, tells us about their partnership-first, consumer-centric model that’s bringing about better opportunities for business growth.
Blair Turnbull, CEO of Tower
The insurance industry in New Zealand spans multiple centuries.
While insurance has changed over that time, the concept is still the same. It’s about helping people manage risk.
Overseas territories have seen insurance disruptors enter the market with fast take up from consumers. This reflects a demand for insurance products with technology central to the service offering.
So it follows, that the key question is how do we reimagine the New Zealand insurance industry, at pace and in a way that is absolutely customer-focused.
A key part of delivering this goal is industry partnerships, and it is a quintessentially Kiwi way of delivering business success.
Everyone knows everyone in New Zealand, so how do we leverage this to create better products and services for Kiwis.
Done well, industry partnerships create an ecosystem of complementary businesses, all working together to build a deeper understanding of the customer and finding ways to improve their experience.
With the right strategic partnerships, we’ve been able to quickly and effectively bring in skills and expertise that has helped us grow and be disruptive within our own business - with positive outcomes.
More than that, it’s an opportunity for us to partner with younger and newer ways of thinking to help grow emerging businesses with exposure to our established customer base.
It is the collaboration with other leading-edge, innovative companies that allows Tower to have a competitive edge, particularly in terms of creating new growth products, solutions and business models.
Whether it’s the likes of global heavy weights like Allianz or start-ups like Huddle, we’ve not only increased our offerings to our customers but continued to evolve as a company.
During the past six months, Tower has been thrilled to announce a myriad of new partners across the industry, including;
Allianz, the world’s largest insurer, to introduce a range of new products, including travel and pet insurance.
Huddle, an Australian insurance start-up, to underwrite their New Zealand offering to bring a unique offering to Kiwis.
CSC Buying Group, and InsurTech start-up, Sentro, to enable businesses that are part of the Buying Group to offer their employees discounted insurance with Tower. The partnership provides employees with direct access to services such as the MyTower platform.
Commercial relationships with New Zealand Defence Force (NZDF) and Auckland Council enable Tower to reach around 500,000 employees and their families directly.
These partnerships have diversified our business’ distribution footprint, helped prepare the insurance industry for the challenges of the future, and most importantly, simplified the customer experience by bringing insurance directly to Kiwis.
We see our partnership strategy as a long-term social responsibility that benefits us directly as well. We’re immensely passionate about it.
Together established organisations can lift new businesses up and startups can reinvigorate legacy businesses. It’s a key way that we’ll keep New Zealand’s tech sector translating knowledge and skill into business and customer outcomes.