Integration delivers improved broker experience
Honey Insurance has partnered with broker aggregator Specialist Finance Group, enabling its products to be integrated into the broker’s mortgage process.
Supported by insurtech innovation, Honey Insurance says its digital approach supports home buyers to settle their new homes faster and protect their homes from the settlement date.
Lenders require home insurance to progress applications, and a high proportion of settlements are delayed due to the certificate of insurance not being in place, the home insurance provider said. Depending on the length of the delay, total penalty interest and additional fees from the vendor could become costly, it said.
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To solve these issues, the insurance application is embedded into SFG’s mortgage processing platform. This provides its members and their customers an easier, faster, and more competitive way to put protection in place for their new home, the insurer said.
Digitising the home insurance process allows customers “one less thing to consider” in the overwhelm of buying a home, it said.
Honey Insurance VP of partnerships Eoghan Trehy (pictured above left) said the company was excited to be able to extend its offering to the SFG broker network, enabling members to provide additional value to their customers.
“We’re providing a simple and streamlined process for brokers to ensure their clients settle without delay, something we know has been a pain point in the past,” Trehy said.
“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.”
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SFG general manager Blake Buchanan (pictured above right) said the aggregator was “thrilled” to increase opportunities to its broker members that help consumers.
“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,” 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.”
