TWR
14/08/2015 08:31
GENERAL
NOT PRICE SENSITIVE
REL: 0831 HRS Tower Limited
GENERAL: TWR: Trade Me & TOWER unveil Trade Me Insurance
14 August 2015
Market Information
NZX Limited
Level 2, NZX Centre
11 Cable Street
Wellington
New Zealand
Company Announcements Office
Australian Securities Exchange Limited
Exchange Centre
Level 6, 20 Bridge Street
Sydney NSW 2000
Australia
Trade Me & TOWER unveil Trade Me Insurance
Trade Me has partnered with TOWER Insurance to give Kiwi consumers more
choice with the launch of Trade Me Insurance today.
Trade Me Insurance (trademeinsurance.co.nz) promises to provide New Zealand
consumers with peace of mind around their home, contents, and car insurance,
but without the painful process. It is a comprehensive online insurance offer
where people can get a quote, buy insurance, make a claim and manage their
policy.
Trade Me chief executive officer Jon Macdonald said Trade Me Insurance was an
easy, simple, good value, and trusted new way for New Zealanders to buy
insurance. "We've built a streamlined online insurance experience that is as
useful and intuitive as possible, with a focus on the buyer. We're also
making sure that members of the Trade Me community get a particularly good
deal so they'll enjoy a 15 per cent discount on premiums from day one."
TOWER Limited chief executive officer David Hancock said Trade Me Insurance
was an important new initiative. "Today's launch is a real milestone for us.
We're focused on meeting changing customer expectations around insurance
online, and investing heavily in the development of digital infrastructure.
What's most exciting about Trade Me Insurance is that it offers general
insurance customers an end-to-end digital solution from quote to claim, and
gives customers greater flexibility and choice."
Mr Macdonald said the new offering had been tailor-made with TOWER. "Trade
Me Insurance has been built from scratch. It combines our knowledge of
building useful online experiences with TOWER's financial strength and 140
years of insurance experience. Everything's new - the products, the website,
the pricing and the customer service."
He said TOWER was a natural fit. "They're smart, and easy to deal with. And
most importantly for this venture, consumers will have confidence that Trade
Me Insurance is backed by a well-respected local insurer doing some
interesting things online."
Mr Hancock said TOWER's alliance with a much-loved brand like Trade Me
strengthened the insurer's partner network across New Zealand.
Trade Me Insurance is led by Conor Sligo and Tim von Dadelszen, the general
managers of Trade Me's current LifeDirect insurance comparison website.
Mr Macdonald said Trade Me Insurance was part of Trade Me's selective forays
into financial services. "This seemed like a natural extension for us into an
area where we could do something to change things up. We've made some
investments in financial services already, having acquired LifeDirect in 2013
and buying a stake in peer-to-peer lender Harmoney in January this year."
ENDS
David Hancock
Chief Executive Officer
TOWER Limited
ARBN 088 481 234 Incorporated in New Zealand
For media queries, please contact:
Tracey Palmer
Head of Corporate Communications
Mobile: +64 21 837 860
Email: [email protected]
For investor queries, please contact:
Brett Wilson
Chief Financial Officer
Telephone: +64 9 369 2202
Email: [email protected]
End CA:00268397 For:TWR Type:GENERAL Time:2015-08-14 08:31:42
