Tower and MTF Finance have announced a partnership that seeks to provide insurance to customers that take out a loan from the latter.
The partnership will allow MTF Finance’s clients to insure their new asset in a quick and seamless transaction, the companies said. For new vehicles, these will be insured before they are driven out of the dealership.
MTF Finance has 51 franchises across New Zealand, as well as hundreds of certified dealerships, allowing it to provide around 50,000 Kiwis each year with personal and automotive loans.
Jonathan Beale (pictured above), Tower managing director for partnerships, said the partnership with MTF Finance comes at a pivotal time for the motor industry, as consumers make a rapid shift to more sustainable vehicle 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,” Beale said. “Nationally, new EV registrations doubled in the third quarter this year compared to the average over the previous four, and EVs and Hybrids now make up 40% of New Zealand’s top selling models.
“We are excited to join forces with MTF, as a business that also understands modern customer expectations, to offer a beautifully simple and rewarding insurance experience to our customers.”
Aside from motor insurance, Tower’s complete product suite will be available to MTF Finance customers, including home and contents cover. Aside from cars, MTF also finances motorcycles, boats, jet skis, caravans, motorhomes, home improvements and travel – all of which can be insured by Tower.
“We are delighted to work with Tower to offer a wider range of insurances in a seamless manner,” said MYF Finance CEO Chris Lamers. Both companies are locally owned and operated and share a passion for helping New Zealanders. As MTF accelerates its growth, we are working with partners to add more ways we can assist our customers, and insurance is a key priority for us. We want to ensure that when someone is borrowing money to buy a specific asset, they have the right protection in place for that asset.”
