NRMA Insurance has started offering home loans in partnership with digital lending platform Tic:Toc, in which parent company IAG first invested five years ago through its venture capital arm. 

“This is an opportunity for us to deepen our long-term relationship with existing customers and attract new customers early in the home buying process,” NRMA Insurance CEO Julie Batch said last week. 

“NRMA Home Loans will help customers by offering a competitive rate and through our partnership with Tic:Toc, offering a fast and simple application experience.”  

The loans are funded by Bendigo and Adelaide Bank, which is also a Tic:Toc investor. 

Tic:Toc Founder and CEO Anthony Baum says the platform has made the home loan application process “smarter, faster and simpler”, with customers able to apply for a loan and finalise their application in less than an hour.  

“The demand for digital home loan experiences is growing exponentially, with fully digital home loan processes already being offered by an increasing number of lenders and brands in market, a number of which are powered by Tic:Toc,” he said. 

The partnership with Tic:Toc to deliver NRMA Home Loans started in 2018, with a total of four investments in Tic:Toc by IAG Firemark Ventures. 

The home loans web site says Insurance Australia Ltd trading as NRMA Insurance may receive a commission from Bendigo and pay a commission to Tic:Toc if a loan application is approved.