AFG is expanding its current partnership with iSelect and has entered into a joint operation agreement with iSelect to help them provide an improved customer experience and to further enhance the provision of a digital home loan service to Australian borrowers. The joint operation will commence on 1 April. AFG has not acquired a financial interest in iSelect as part of the Joint Operation Agreement.
AFG General Manager Broker & Residential Mark Hewitt announced the partnership today to AFG staff and brokers and noted: “Digital comparison sites like iSelect are primed for growth in coming years as they provide fast and convenient online access to a choice of loans and lenders.
iSelect has been operating the home loans arm of their business through AFG for more than 8 years. During that time iSelect’s in-house mortgage brokers have accessed AFG’s technology platform to provide their customers with home loans from AFG’s panel of lenders.
“This evolution comes from a long association between the two companies and will leverage the strengths of both companies to allow for further growth and customer care,” he said.
“As part of the new joint venture, iSelect will continue to focus on their proven ability to generate leads from those customers who wish to utilise the digital channel. AFG’s role will be to assist those customers through the establishment of a fulfilment team; a team of brokers and administrative staff who have previously operated under AFG’s license as credit representatives, and who will transition from iSelect to be employed by AFG.
iSelect’s home loans team, based in Victoria, will be responsible for qualifying and servicing digital leads through to settlement. They will operate under the iSelect brand, “powered by AFG”.
“iSelect’s online lead generation strength combined with AFG’s depth of understanding of the home loan market will enhance the customer experience,” said Mr Hewitt.
“Prior experience with high volume lead conversion has taught us that customer experience and consistency of brand are key to success and we believe the joint venture model with iSelect meets those benchmarks,” said Mr Hewitt.
“AFG’s technology platform, lodgement processes, compliance and broker education services will further strengthen the iSelect value proposition to their clients.
“An increasing segment of the market are those customers who choose to research products online. AFG will be able to take key learnings from this partnership to look to provide similar fulfilment services for all AFG brokers, enabling them to participate further in the opportunities the digital channel provides,” he concluded.