Yellow Brick Road Group (YBR) and Suncorp struck a deal that lets Vero provide general insurance products to YBR and Vow Financial clients.
The exclusive agreement runs for five years and adds to an existing relationship between YBR and Suncorp, which includes access to lending services through Suncorp Bank
The partnership is on a spot-and-refer basis.
“If a client has complex needs or wishes to use another insurer, they would be referred to our general insurance broking team, who can provide full-service insurance advice,” YBR’s head of general insurance operations, Fetima Abes, told Australian Broker
. “This team has access to over 70 insurance products and providers.”
Allianz previously provided general insurance products for YBR clients.
, executive chairman of YBR, said the partnership will deliver better outcomes for clients.
“We spent a lot of time looking at the market to make sure we were providing the best products for our clients. Partnering with Vero will ensure our lending and wealth clients get the protection they need,” he said.
The agreement will allow YBR clients the option to choose their insurance products while arranging their home or vehicle loan, whether they are borrowing from Suncorp Bank
or another financial institution, said Suncorp CEO customer marketplace, Pip Marlow.
“Intermediaries are an important part of our business and we see a natural fit between YBR and Vero – a specialist in intermediated insurance solutions,” she said.
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