Kogan is moving further away from its primary roots as a discount online electronics retailer with the launch of a new business selling insurance policies under a partnership with global insurer The Hollard Insurance Group.
The initial three-year agreement with Hollard's Australian arm allows Kogan.com to market a range of insurance offerings under a new brand – Kogan Insurance.
The Hollard Group is a privately owned insurance company headquartered in South Africa that operates under two insurance licences – short term and life. According to a footnote in Kogan's statement on the deal, the Hollard Insurance Company is a "leading A-rated Australian insurer, with over one million policy holders".
Under the agreement, Kogan will initially offer home, contents, landlord, car and travel insurance, with Hollard underwriting the insurance and Kogan.com earning commissions on sales of all policies.
Announcement of the move into insurance by Kogan, with policies to be offered for the first time sometime before the end of this year, follows hard on the heels of the recent announcement of the planned launch of a competitive NBN offering in partnership with Vodafone in 2018.
{loadposition peter}According to David Shafer, executive director of Kogan.com, its brand is “synonymous with value for money and the company has demonstrated success in its portfolio of businesses, including Kogan Mobile and Kogan Travel”.
Shafer says the alliance with Hollard was another opportunity to “delight Kogan’s large and growing customer-base by offering more competition on services used by almost all Aussie households”.
“The Kogan Community continues to grow, with one in every six Australians subscribing to our offers. We're excited about bringing great value insurance offerings to our loyal members. We will continue to look for opportunities to deliver more value to our customers in our existing portfolio of businesses, and in new businesses.
“We understand that buying insurance may not be exciting or glamorous – it's simply about ensuring that you’re covered when something unfortunate happens. We know that Aussies want a way to get premium insurance coverage on a budget, so they can sleep well at night knowing that they're protected without paying more than they must. That's why we've partnered with a trusted global insurance leader to bring Aussie consumers premium protection without the premium pricetag.
“We are excited to partner with Hollard to launch Kogan Insurance. Hollard operates at the cutting edge of insurance services - insuring close to $100 bilion of assets with over one million policy holders, and is part of a global financial services group that operates across 20 countries.”
Hollard chief executive Richard Enthoven said that “Kogan and Hollard share values of innovation and entrepreneurship – the launch of Kogan Insurance represents a great opportunity to deliver more value to Kogan customers”.
”Kogan Insurance is expecting to launch its insurance offering to the Kogan.com Community in 2017."