MTF joins forces with insurer

Partnership with Tower part of company’s plans to accelerate growth as more consumers turn to EVs.

MTF Finance and insurer Tower have announced a partnership that aims to make the purchase and insurance process easier for the finance company’s customers.

The deal means when consumers take out a loan with MTF Finance, they can insure their new asset through Tower at the same time. For vehicles, this can be done before they drive it off the yard.

Jonathan Beale, Tower managing director partnerships, notes the move comes as consumers are shifting to more sustainable vehicles.

“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 per cent throughout 2022,” he explains.

“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 per cent of New Zealand’s top selling models.”

Under the partnership, MTF Finance customers can now access Tower products online or over the phone and will also have access to the My Tower platform, where they can update, claim on and manage their insurance online.

Chris Lamers, pictured, MTF Finance chief executive officer, says the company is delighted to work with Tower to “offer a wider range of insurances in a seamless manner”.

“Both companies are locally owned and operated and share a passion for helping New Zealanders,” he adds.

“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.”