Sub-aggregator partners with insurer

by Miklos Bolza11 Sep 2017
Perth-based sub-aggregator Diversifi has partnered up with insurer Ensurance allowing member brokers to offer home and contents insurance to their clients.

Diversifi, which aggregates through Choice, teamed up with Ensurance after learning it offered insurance quotes directly through a platform, Rose De Rossi, director of Diversifi, told Australian Broker.

“I thought that was something good that we could look at. We’re always looking at new income streams for our brokers or offerings for our clients – something that complements the home loan or finance options that they take with us.”

Ensurance also had a multi-insurance offering, which makes the arrangement even more attractive, she said. Diversifi has added this platform to its website, which is easy for clients to access by themselves through a simple login link.

“We’re not actually providing any advice. We’ve just got the facility there if they want to use it and they can make their own decisions as to whether they go ahead.”

“If they’re with a broker, the broker can sit with them and guide them through. They’re not actually providing a quote; they’re just going over the way to access the site and what clients need to do. The site then provides all the insurance quotes over a number of insurance companies and the client can take the next step themselves.”

In the event a client decides to take out insurance through the platform, Diversifi gets sent a certificate of currency which is one requirement for taking out a home loan.

“This makes the process very simple,” De Rossi said.

The sub-aggregator’s brokers will also gain commissions paid on the upfront of each policy sold.

As part of the compliance process, all clients are asked whether they want to obtain a home and contents insurance quote at the start of the home loan process.

“We’re making it very open. We’re telling them that they need to organise this. We can help them with it or they need to handle it on their own.”

On getting the disclaimer signed, this is then a trigger point at which the broker has to discuss home and contents insurance with the client, De Rossi said. The act is also a duty of care for Diversifi, providing evidence that the matter has indeed been covered.

Since commencing the partnership two or three months ago, the sub-aggregator has brought in ten policy quotes, two of which have converted, she said.

In this time, Ensurance has also helped establish an SMS marketing tool for Diversifi to keep in touch with all the firm’s clients every fortnight.

“It’ll be another reminder for those – if they’re not doing a loan right now and who have done it in the past – we can still make them aware that we have that platform.”

Diversifi currently has 11 loan writers and six agencies across Australia. Of these, five are in Western Australia and one is in Brisbane.

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