New Zealand (Commonwealth Union)_Tower and MTF Finance have joined forces to offer insurance to consumers who get loans from MTF Finance. According to the firms, the cooperation will enable MTF Finance’s clients to insure their new assets in a swift and simple process. New automobiles will be insured prior to their departure from the dealership.
MTF Finance owns 51 franchisees and hundreds of licensed dealerships around New Zealand, providing personal and vehicle loans to about 50,000 New Zealanders annually. Tower, on the other hand, provides car, home, contents, business, boat, pet, travel and other general insurance across the island nation.
According to Jonathan Beale, Tower’s managing director for partnerships, the cooperation with MTF Finance comes at a vital time for the automotive sector, as consumers rapidly migrate to more environmentally friendly car models. “We are certainly starting to see the effects of the Clean Car Scheme at Tower, with the number of EVs we insure growing by 78% throughout 2022,” he said, adding that new EV registrations in the country doubled in the third quarter of 2022 as compared to the average of the four quarters of 2021, and EVs and Hybrids now account for forty percent of New Zealand’s best-selling vehicles.
Beale also expressed delight over the partnership with MTF. “We are delighted to partner with MTF, as a business that also understands current customer expectations, in order to provide our consumers with a beautifully simple and rewarding insurance experience,” he said. Besides auto insurance, MTF Finance customers will have access to all of Tower’s products, including house and contents insurance. Other than automobiles, MTF also funds motorbikes, boats, jet skis, caravans, RVs, home upgrades, and trips, all of which are insurable by Tower.
Chris Lamers, chief executive officer at MTF Finance, expressed excitement over the collaboration. He remarked: “We are glad to collaborate with Tower to offer a broad range of insurances in a seamless manner”. According to him, both businesses are locally owned and controlled, and they have a strong desire to assist New Zealanders. As MTF continues its expansion, it is collaborating with partners to increase the number of ways it can support consumers, and insurance is a top focus for the firm. The aim of the firm is to ensure that when someone borrows money to purchase a specific asset, that asset is adequately protected.