Honey Insurance named one of Australia’s Most Innovative Companies

14 October 2022 3 mins
innovation awards australian financial review

With less than 18 months in market, Honey Insurance has been recognised as one of Australia and New Zealand’s Most Innovative Companies.

Amber Morris

The annual list announced today and published by The Australian Financial Review is based on a rigorous assessment process managed by Australia’s leading behavioural science consultancy, Inventium, in conjunction with a panel of industry expert judges.

Honey, Australia’s first smart home insurance, is proud to rank in the top ten on the Banking, Superannuation and Financial Services list, from over 700 nominated organisations across Australia and New Zealand. Honey, launched in June 2021, is on a mission to help prevent avoidable accidents that happen in people’s homes that often lead to claims, and invests in customers upfront by providing technology to help reduce risk in the home.

“It is so encouraging to see Australian entrepreneurs and intrapreneurs continuing to come up with fresh ideas and executing them,” said Sally Patten, Editor, BOSS Innovations. “Those highlighted in the 2022 AFR BOSS Most Innovative Companies list should help to propel our economy.” 

“Honey was founded on the belief that complimentary smart home technology could help Australians to avoid insurance risks and help to keep people safer. Insurance is one of the oldest and largest industries in the world, and we are proud to see Honey’s approach to shaking up the insurance industry recognised today on the list of AFR most innovative companies,” Richard Joffe, Honey CEO and Founder commented.

Joffe continues, “We are excited to stand alongside Australia’s most innovative companies. It takes passion and courage to meaningfully change industries, and it’s amazing to see the contributions being made by all the companies on the AFR Innovation list.”

Honey’s Smart Home Program was a standout for the judges, the first of its kind in Australia providing customers with purpose-built sensors that help identify accidents and rewarding customers for reducing the risk in their homes. The smart home sensors are multifunctional and can monitor for water leaks, the opening of doors and windows, sounding alarms, and temperature changes by sending real-time alerts to your smartphone. The sensors provide an easy DIY approach to smart home monitoring, with no professional installation required, and can be installed in less than 15 minutes.

“Inventium is proud to announce the 2022 Most Innovative Companies list in conjunction with The Australian Financial Review. It’s exciting to see the number of ideas that are not only creating enormous value for our entrants, but are also contributing to a positive impact on our planet and diverse communities.” Dr Amantha Imber, Founder, Inventium.

About Honey

Honey is smart home insurance, and we are on a mission to eliminate the majority of avoidable accidents that happen in the home. We give our customers $250 of technology upfront, and ongoing services to keep homes safer when they sign up for 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, one of the most trusted insurance companies in Australia.

About The AFR BOSS Most Innovative Companies List The AFR BOSS 

The Most Innovative Companies list (previously the BRW Most Innovative Companies list) is now in its eleventh year. The list ranks the most innovative organisations in Australia and New Zealand, by industry, and is the only national list of its kind. mostinnovative.com.au

About Inventium 

The list is judged and compiled by Inventium – Australia’s leading behavioural science consultancy. Inventium applies the latest scientific findings from psychology, cognitive science, and behavioural science to help people innovate, adapt, focus and thrive in a world where the only constant is change. Inventium is the official methodology partner of the AFR Most Innovative Companies list and the AFR Best Places to Work List. Inventium is also a proud BCorporation. www.inventium.com.au

About the Australian Financial Review 

For more than 50 years The Australian Financial Review has been the authority on business, finance and investment news in Australia. It has a reputation for independent, award-winning journalism and is essential reading for Australia’s business and investor community. The Australian Financial Review is owned by Nine, a leading multi-platform media company in Australasia.

Amber Morris

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