As part of a $3 million investment in the start-up company, Honey Insurance, AGL has today announced it will begin offering smart insurance products to customers building a new home or renting
AGL Chief Customer Officer, Christine Corbett said, as Australia’s largest energy-led multi product retailer, AGL is committed to delivering truly customer centric offerings that simplify the customer experience.
“We are taking away the hassle of calling several providers by streamlining customers’ essential services and becoming the one place for energy, broadband, mobile - and now insurance,” Ms Corbett said.
“Honey’s offering uses smart home technology, including sensors that can proactively detect preventable incidents such as fire, water damage or even theft.
“We know customers are looking for smarter solutions with the latest technology to power their lives.”
The investment in Honey Insurance builds on AGL’s Future Business strategy through AGL Next, which delivers innovative initiatives to develop, test and pilot new ideas and programs.
AGL Executive General Manager Future Business and Technology, John Chambers said Honey’s business model and innovative approach provides an exciting avenue for AGL to explore and expand.
“We are concentrating our investments in like-minded businesses that have the technology to make customers’ lives easier,” Mr Chambers said.
“We have seen the success of smart home technology overseas and believe that it is an untapped and growing market here in Australia, where we are quick to take up connected services that make our lives easier.”
Honey Insurance CEO, Richard Joffe said AGL offers Honey incredible scale given their 4.2 million customer services and we couldn't be happier to have a more aligned partner to be our first to market with.
“From the first conversations, we knew AGL shared the same commitment as Honey, to create innovative services for Australians. This is only the beginning of many unique and joint offerings to come,” Mr Joffe said.
The offer will be available through Connectnow, a leading home moving specialist.
Proudly Australian for more than 180 years, AGL supplies around 4.5 million energy and telecommunications customer services*. We’re committed to becoming a leading multi-product retailer, making energy and other essential services simple, fair and transparent. AGL operates Australia’s largest private electricity generation portfolio within the National Electricity Market, comprising coal and gas-fired generation, renewable energy sources such as wind, hydro and solar, batteries and other firming technology, and gas production and storage assets. We are building on our history as Australia’s leading private investor in renewable energy to now lead the business of transition to a low-emissions, affordable and smart energy future in line with the goals of our Climate Statement. We have a passionate belief in progress and a relentless determination to make things better for our communities, customers, the Australian economy and our planet.
About Honey Insurance
Honey is smart home insurance, and we are on a mission to eliminate 50% of avoidable accidents that happen to homes. We give our customers $250 of free technology upfront, and ongoing free services to keep homes safer when they sign up to house and contents insurance. We then reward them with a lower price on their insurance for being safer. We raised $15.5m, the largest seed investment in Australian history, from industry leaders such as AGL, Metricon, Mirvac, PEXA and many others. Honey is underwritten by RACQ, a top 10 insurance company in Australia with 1.8 million customers.
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