2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
Milestones
2008
2013
2016
2019
2020
2021
Joint venture is formed between Macquarie and Steadfast.
2008
Pacific Premium Funding is acquired from GE.
2013
Wayne Tower is promoted to division director at Macquarie Bank.
2016
Macquarie Pacific Funding becomes IQumulate Premium Funding.
2019
IQumulate launches the first securitisation of premium funding loans in Australia.
2020
Tower is appointed CEO of IQumulate.
2021
Innovation and education drive IQumulate’s success
Wayne Tower, CEO of IQumulate Premium Funding, says 2022 is looking good.
He puts that down to a great team, a competitive offering and heavy investment in the company's delivery platform.
“We're investing heavily in our platform to ensure we deliver solutions that our brokers and their clients expect from us. These investments are aimed at improving the broker experience when they transact with us and improving time to outcome,” he says.
Tower says that with the support of the board and shareholders, IQumulate has placed a priority on sustainable growth.
“I'm really pleased with the momentum we have at the moment, both in Australia and New Zealand. So, we are well positioned to deliver on our goals,” he says.
Tower expects IQumulate to roll out several new initiatives over the next 12 months.
“That’s really exciting for us and we hope equally exciting for our broker partners,” he says.
Differentiating IQumulate’s offering from the competition depends on service, delivery and technology, Tower says. The other vital factor is education.
Last year the company launched IQView, its broker education and insights program. The offering delivers a variety of free content that isn’t necessarily product related.
“We want this to become a channel where people can access information such as economic updates, work wellbeing and general financial topics which they can use both in their own business and also to help the way in which they can engage with customers,” says the CEO.
Each learning module provides Continuing Professional Development points, which helps brokers with their accreditation.
The CEO also brings a sense of humour. One of his career highlights, he says, was finally being able to satisfy the naggings of his late grandfather.
“My late grandfather was always hurrying me along in my career, only so he could see my office and have a cuppa from the tea lady,” he says.
However, the last two years of COVID-19 have meant the Sydney-based CEO has spent less time in the office than he was expecting. On the bright side, Tower says, a major event before COVID struck helped provide IQumulate with the agility to deal with pandemic challenges.
“When Steadfast acquired 100% of our business in 2019, we effectively had to rebuild a large swathe of the organisation,” he says.
Tower says the rebuilding included part of iQumulate's technology platform, as well as funding arrangements and the launch of a new brand.
“Each of these components would have been big undertakings in their own right, but to do all that in what was really a very short time period was a massive endeavour,” he says.
The focus throughout this business transformation was on IQumulate’s brokers.
“We prioritised our brokers and tried very hard to minimise disruption to their business,” Tower says.
He adds that “it’s worth noting” that IQumulate still receives a large amount of support from partners of all shapes and sizes, from authorised representatives all the way though to international brokers who it partners with to support corporate clients.
“Did we get everything right? Probably not. But how we came through that was testament to the support we had from our broker partners and the relationships they have with our business,”
says Tower.
However, the premium funder didn’t have much time to rest on any accolades. He describes the COVID-19 experience that followed as “quite confronting”.
“We had no idea what this would do to our way of life. When lockdowns commenced, we really did worry about the impact on our customers, 97% of which are businesses who were about to be hit between the eyes."
IQumulate tried to find a balance between supporting struggling customers and protecting its own business, Tower says.
“We took a balanced approach for the majority of 2020 and early 2021 and tried to support our team who had worked so hard to develop and grow relationships throughout and after the rebranding of the business."
However, in such a tough environment, the CEO admits it was very hard to keep everyone happy.
“Whilst we have taken a massive step forward, there remains work to do in re-establishing some relationships with some brokers – but we won’t stop trying,” he says.
Tower says the pandemic has changed the way we work forever.
“Realistically, I see a hybrid model becoming the norm, and it will be an increasingly important element of decision-making in terms of whether a potential employee joins the business."
Despite that, he is a firm advocate of the importance of face-to-face personal relationships.
“Call me old-school, but I do see value in getting people together, particularly when it comes to the learning and development of our team,” he says.
One of the current industry challenges that’s a priority for Tower is attracting and retaining talent.
“Whilst not a challenge that is specific to insurance or financial services, attracting and retaining talent is on everyone’s minds at the moment,” he says.
The CEO has been working hard to turn this around.
“At IQumulate we've been working on our employee engagement intensely over the past few years,” he says. “Pleasingly, our results in this area continue to improve, so I'm confident that we are well placed as a business to retain the great team we have."
Spotlight
Humility, humour and tea ladies
Tower brings a refreshing humility to his role. That’s reflected in what he regards as important leadership qualities.
“If I had to pinpoint a few attributes that I think are critical in leadership, they would certainly be composure and humility,” he says.
In a fast-paced transactional environment, Tower says composure goes a long way to ensuring the focus remains firmly on goals and objectives.
“It’s my role to ensure the environment our team and business operates in allows us to deliver on potential. I don’t have all the answers, so asking for and accepting input from those around you with wide-ranging skill sets is crucial."
IQumulate Premium Funding is a leading provider of insurance premium funding in Australia and New Zealand. Each year IQumulate works with over 600 brokers to help more than 60,000 businesses, from sole traders through to large corporates, finance the cost of their insurance premiums. By spreading the cost of insurance, IQumulate helps clients get the right level of cover and free up cash flow for other expenses or business growth.
Company Profile
2008
YEAR FOUNDED
70+
Number of staff across Australia and New Zealand
600+
Number of brokers in network
60%
PROPORTION OF WOMEN IN LEADERSHIP
60,000
Number of businesses worked with
Bio
Spotlight
Milestones
Media
Accolades
Company Profile
Years of Experience
22
Tenure at current position
2017 - Present
Fun FActs
“Got the golf handicap down to 5 (before the kids arrived!),” Tower says. He is also a small shareholder of four racehorses
Wayne Tower
CEO at IQumulate Premium Funding
IQumulate CEO Wayne Tower says quality service, delivery and technology help set the premium funder apart. However,
a focus on education might be his company’s secret weapon
Read on
“We’re investing heavily in our platform to ensure we deliver solutions that our brokers and their clients expect from us. These investments are aimed at improving the broker experience when they transact with us and improving time to outcome”
Wayne Tower,
IQumulate Premium Funding
“If I had to pinpoint a few attributes that I think are critical in leadership, they would certainly be composure and humility”
Wayne Tower,
IQumulate Premium Funding
Share
2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
Milestones
2011
2012
2015
2016
2019
2021
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2012
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2015
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2016
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2019
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2021
Spotlight
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
1983
YEAR FOUNDED
70+
Number of staff across Australia and New Zealand
60,000
PROPORTION OF WOMEN AMONG FUNDSERV EMPLOYEES
600+
PROPORTION OF WOMEN IN LEADERSHIP
63,514,128
NUMBER OF ORDERS PROCESSED IN 2019
“Managing people or a team is about one-on-one relationships – knowing an individual regardless of where they are from, what gender they are or what their background is. It comes down to understanding them individually”
Karen Adams,
Fundserv
“The number-one priority [for Fundserv] is to be this indispensable hub at the centre of the investment industry and to truly collaborate with everyone who connects with us”
Karen Adams,
Fundserv
Years of Experience
22
Tenure at current position
2017 - Present
BAsed In
Toronto, Ont.
Fast Facts
Gaining international experience and learning about different people and cultures
Karen Adams
President and CEO at Fundserv
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
Share
Share
2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
Milestones
2011
2012
2015
2016
2019
2021
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2012
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2015
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2016
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2019
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2021
Spotlight
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
1983
YEAR FOUNDED
70+
Number of staff across Australia and New Zealand
60,000
PROPORTION OF WOMEN AMONG FUNDSERV EMPLOYEES
600+
PROPORTION OF WOMEN IN LEADERSHIP
63,514,128
NUMBER OF ORDERS PROCESSED IN 2019
Years of Experience
22
Tenure at current position
2017 - Present
BAsed In
Toronto, Ont.
Fast Facts
Gaining international experience and learning about different people and cultures
Karen Adams
President and CEO at Fundserv
Career highlight
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
“Managing people or a team is about one-on-one relationships – knowing an individual regardless of where they are from, what gender they are or what their background is. It comes down to understanding them individually”
Karen Adams,
Fundserv
“The number-one priority [for Fundserv] is to be this indispensable hub at the centre of the investment industry and to truly collaborate with everyone who connects with us”
Karen Adams,
Fundserv
IN Partnership with
In Partnership with
In Partnership with
CONTACT US
SPECIALTY
BEST INSURANCE
RESOURCES
RISK MANAGEMENT
FEATURES
TV
NEWS
Copyright © 2022 Key Media
Key Media
Insurance Business America
Insurance Business Canada
Wealth Professional Canada
People
Terms & conditions
Privacy policy
Conditions of use
About us
Contact us
RSS
Asia
NZ
AU
CA
US
UK
contact us
specialty
Best Insurance
Resources
RISK MANAGEMENT
FEATURES
TV
News
Copyright © 2022 Key Media
People
Terms & conditions
Privacy policy
Conditions of use
About us
Contact us
RSS
Asia
NZ
AU
CA
US
UK
contact us
specialty
Best Insurance
Resources
RISK MANAGEMENT
FEATURES
TV
News
Copyright © 2022 Key Media
People
Terms & conditions
Privacy policy
Conditions of use
About us
Contact us
RSS
Asia
NZ
AU
CA
US
UK
Favourite quote
“You have two ears and one mouth – use them proportionately”
Career highlight
“Being appointed CEO of IQumulate”
DrivenxDesign 2019 Sydney Design Awards – Silver winner in Identity and Branding category for IQumulate brand launch campaign