Expanding Digital Capabilities Tower Insurance is investing heavily in digital transformation, hiring a Chief Digital and Technology Officer and adopting advanced tech stacks like Selenium, Zendesk, and marketing automation tools. This indicates a strong focus on enhancing digital customer experiences, presenting opportunities to offer digital solutions and integrations.

New Product Innovation The recent launch of Rainfall Response Cover demonstrates Tower’s commitment to innovative, parametric insurance products tailored for climate-related risks. Partnering with loss adjusters like Sedgwick further positions Tower to meet increasing demand for quick, weather-related claims processing, ideal for businesses in disaster-prone regions.

Strategic Partnerships Upcoming collaborations with Westpac New Zealand for underwriting house, contents, and motor policies signify growth through white-label solutions and combined distribution channels, opening avenues for product bundling and cross-selling opportunities within the banking and insurance sectors.

Market Recognition Being named Home and Contents Insurer of the Year 2024 and receiving industry awards enhances Tower’s brand credibility, making it a compelling partner for co-branded initiatives and joint ventures aiming to capture market share and boost customer trust.

Regional Growth Focus Operating across New Zealand and five Pacific nations highlights regional expansion opportunities, especially for insurance products tailored to diverse markets with unique weather, environmental, and property risks, suitable for companies looking to target emerging markets with customized offerings.