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loans.com.au makes car finance faster through connected insurance with Open

Open Team
Open Team
Open Team
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December 2, 2021
0 min read
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We’re thrilled to announce our partnership with InsurancePoint to bring powerful and simple insurance to more Australians.

InsurancePoint and loans.com.au are part of the Firstmac Group, an award-winning leader in lending in Australia for home and car loans.

loans.com.au’s car loan customers now have the option to purchase comprehensive car insurance through InsurancePoint as part of their online car loan application process. Open powers the insurance offer, end-to-end from quote to claim, with Hollard Insurance as underwriter.


Open and InsurancePoint - better together

InsurancePoint provides customers with the option to quickly purchase powerful and simple insurance within the loans.com.au onTrack application process - otherwise known as embedded insurance. “For a car loan to be approved, customers have to purchase car insurance. In a typical process this means buying insurance externally then forwarding a certificate of currency to a lender like loans.com.au as proof,” says Open’s Chief Customer Officer, Nicole Buisson.

Customers who purchase InsurancePoint cover have their certificate of currency automatically sent to the loans.com.au system. “Customers are always looking for a friendlier, more intuitive experience and evidencing their insurance this way makes for a smoother loan application process,” says Buisson.

"loans.com.au is pleased to partner with Open to offer car insurance to our customers. This partnership of FinTechs means customers can access both loans and insurance through fully digital offerings, with low loan rates and quick approvals,” says Marie Mortimer, Managing Director of loans.com.au.

InsurancePoint customers will benefit from insurance policy options such as Kanga cover and a Pay as You Drive.

About loans.com.au and the Firstmac Group

loans.com.au an award-winning online lender with thousands of happy customers across Australia. loans.com.au is proudly part of the Firstmac Group, a leader in lending for home loans and car loans in Australia with brands Firstmac, loans.com.au, CarLoans.com.au and car buying service OnlineAuto.com.au. They are Australia's 12th largest lender, and the 3rd largest lender in Queensland, with $14 billion of loans under management.

Established in 1979, the Firstmac Group is an award-winning leader in lending in Australia for home and car loans, including brands Firstmac, loans.com.au, CarLoans.com.au and car-buying service OnlineAuto.com.au. They're also providing insight into finance and property news with their Savings Media Group including comparison site Savings.com.au, Your Investment Property Magazine and Your Mortgage.

About Open

Open is on a mission to offer the fastest insurance, at the best price, for the world. Businesses of all sizes embed Open’s car and home insurance into their digital experiences.

Our flagship products are available under the Huddle brand, and also as a bespoke white-label solution. We work with many large brands and leading tech companies such as Telstra Plus, Plenti, ahm, and On by EnergyAustralia.

Open operates across Australia and New Zealand today, and soon will expand to the UK and Europe. We are proud to count Airtree Ventures (AU), Movac (NZ), Latitude (UK), Hollard Insurance (AU), Seven West Media (AU) and Five V (AU) amongst our investors. Open products are underwritten by Hollard Insurance in Australia and Tower in New Zealand.

We believe in using business as a force for good and are a certified B Corporation.

For more information visit beopen.com or contact media@beopen.com

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