Australia (Commonwealth Union)_Smart home insurance firm Honey Insurance has teamed up with residential real estate provider McGrath Estate Agents as it seeks to simplify the Australian insurance experience. The planned collaboration and investment, which was established in January 2022, will see Honey expand out its products inside the McGrath network, giving consumers, including homeowners and landlords, access to innovative and comprehensive smart home insurance services and products in order to secure their homes and assets.
According to Richard Joffe, founder and CEO of Honey, the insurer collaborated closely with McGrath management over the past year to build a completely digitized experience for its consumers to obtain house insurance in less than three minutes. Expressing optimism over the partnership, he said: “We know that buying a house is one of the biggest life decisions we make. Honey and McGrath are excited to have found a way to help Australians spend more time enjoying their house, knowing that their biggest asset is being proactively protected.”
Honey’s revolutionary home monitoring service enables consumers to be more proactive in spotting incidents that may result in insurance claims. According to John McGrath, managing director and chief executive officer of McGrath, the company’s aim is to establish a complete solution offering to the clients, in which the company provides a suite of products to meet all of their demands. He stated that the Honey model represents the future of insurance, with high-quality products easily accessible through a digital channel. He also added that the company is committed to providing the clients with the best possible products and services at affordable prices.
The agreement is centered on a digitally embedded referral of Honey’s insurance products and strengthens McGrath’s commitment to customer-centric digital experiences. Moreover, Honey was recently lauded by a number of publications for insurance innovation excellence, including inclusion on the AFR’s list of Australia’s most creative firms and the Finders’ award for most innovative insurance product. The company also celebrated one year since entering the Western Australian market and partnered with a number of organizations, including mortgage aggregator Finsure, financial aggregator Specialist Finance Group, and startup PEXA Group Limited (PEXA).
