the first bank in Australia to provide Honey’s smart home sensors to homeowners. According to the statement, BOQ has over 160 locations and 400,000 clients nationwide.
Martine Jager, CEO of Members Equity Bank (ME Bank), a subsidiary of the BOQ Group, expressed optimism over the collaboration. He said, “With Honey’s tech-led preventative solutions for the home, like sensors that help to protect you from avoidable accidents, it is the first of its kind in the Australian market”.
According to the statement, Honey bagged a competitive pitch process at the end of 2021. The organization is a specialist in the house insurance industry. Jager expressed delight over the partnership. He said, “As a group of challenger brands we love partnering with businesses that challenge the status quo. Honey identified there was a need for an insurance product that provides a different kind of cover for Australian home owners”.
Honey provides smart home sensors to assist clients in preventing domestic mishaps that might result in claims, such as fire, theft, and water damage. Richard Joffe, CEO of Honey Insurance, expressed hopes over the collaboration. He said, “We knew from the first conversation with BOQ that both brands had a shared aspiration to digitally embed insurance into the banking experience for the 400,000 BOQ retail banking customers and help protect their most valuable assets”.
According to the statement, the new alliance is necessary for BOQ’s digital transformation goal. The statement added, “Together BOQ and Honey have created a unique and innovative offering focussed on transforming how customers buy insurance and solving pain points by making the experience seamless”.
Honey offers what it refers to as smart home insurance, and its major objective is to reduce the bulk of preventable home accidents. RACQ-Royal Automobile Club of Queensland is the company’s underwriter. Bank of Queensland is one of the few regional banks in Australia that is not owned by one of the Big Four banks. The majority of its branches are independently owned and operated by local owner managers.
