by Susan Edmunds
She said the organisation was running a pre-IPO capital raising round at present.
Throughout its history, Triplejump had run several capital raising rounds and taken new shareholders on board each time. It now has 32 shareholders, including venture capital funder K1W1, Henry Tait, Rob Cameron, and Ralph and Pamela Norris.
She said the franchising model was a good strategy for New Zealand but the business wanted to expand by offering niche software that banks, accounting firms and insurance companies.
The technology platform was built over the past two years. She said international banks and other large-scale providers had told her that they did not want CRM functionality but needed information on advice and managing the customer relationships of their insurance providers.
The technology embeds the six-step advice process within the software programme so that advisers can calculate client risk and prepare a risk plan within the programme.
Triplejump has invested $2 million in the platform already and expects to invest another $1 million a year for the next few years. The primary targets are Australia and Britain, although Farrow said there were opportunities in countries such as Canada, South Africa and Holland, too.
“Most organisations already have an adviser force targeted at the business risk space but don’t have effective, safe tools to do a good job in that market.”
She said the SME human capital risk space was a big, untapped market internationally. “In almost any market in the world, only 5% is realised.”
Farrow said the move into software would not detract from the franchise arrangements in New Zealand. “We think it’s very valuable to own distribution it helps significantly in how we develop better solutions because we have our own team of people using the system and giving direct feedback.”
| « Opportunities for advisers in KiwiSaver requirements | IFA working on pro-bono offering » |
Special Offers
No comments yet
Sign In to add your comment
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved