Tower seeks to leave rivals in the dust with tailored digital insurance model

Wed, 15 Nov 2017

By Paul McBeth Nov. 15 (BusinessDesk) - Tower says it aims to leave its larger rivals with 'clunky legacy systems' in its wake by transforming into a "digital challenger" offering customers more tailored products that draw on deeper pools of information. The Auckland-based insurer is raising $70.8 million to bolster its balance sheet and has adopted an ultra-conservative approach to the most problematic claims lingering from the Canterbury earthquakes seven years ago. Chief executive Richard Harding says that gives it the headroom to ove...

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