Today Honey Insurance, Australia’s first smart home insurance, has announced its launch into the Western Australian market partnering with the state’s largest homebuilder, BGC Housing Group
Closing in on its one year anniversary since launch, Honey continues its rapid growth by aligning with BGC Housing Group, adding the building giant to a renowned list of current strategic partnerships that include AGL, PEXA, Finsure and BOQ. Through this first partnership in Western Australia, Honey continues to modernise the home insurance purchase experience for homeowners, offering an Australian first, proactive home insurance.
This past year has proven momentous for both brands, as Honey celebrates its first birthday and BGC Housing Group maintains its top ranking in WA as the number one home builder (HIA). The annual September 2021 Colorbond Steel Housing 100 survey results reported that BGC Housing Group had a total of 4,205 homes constructed in 2021, up from 2,332 the previous year. This ranked BGC as the fourth largest homebuilder nationally and the top place in WA once more, on the Housing Industry Association (HIA) Top 100 Australian Builders 2021 list.
Honey’s recent research report with YouGov found that in the last 12 months, Australians with home building insurance have been $1000 out of pocket on average for claims, with 67% of those surveyed believing that some of these claims would have been avoidable if they had precautions in place.
These findings demonstrate the BGC Housing Group and Honey partnership has come at a time when having reliable home builders, as well as reliable home building insurance that offers proactive, preventative measures to avoid claims has never been more relevant for Australians.
Richard Joffe, Founder and CEO of Honey Insurance said, “This partnership is a result of a shared customer-first ethos of the home buying process. Where BGC Housing Group's vision is to create more opportunities for Western Australians to build and own their own homes, Honey offers a proactive arm that delivers tech-driven home insurance coverage directly into the digital mortgage and title process. Not only do these homes get built, but the process to begin protecting the most valuable asset most Australians will ever buy is intuitive and fast.”
“We are excited that this marks our sixth partnership in twelve months and in that time we have formed relationships with the best of the best across multiple industries including building, banking and utilities. Our partnership with BGC Housing Group continues our commitment to change the way home insurance is currently being done in Australia, by using smarts to make it more intuitive and technology to help customers protect their homes. We believe this really is the future of insurance in Australia and we are well on our way to making it a reality.”
Michael Bartier, Executive General Manager of BGC Housing Group, echoed Joffe’s thoughts as he shared his insights into the importance of home insurance.
“BGC Housing Group is leading the way in affordable and sustainable homes as WA’s largest builder,” Bartier said. “As we continue to make homeownership a reality for more West Australians it is more important than ever that homeowners take out home and contents insurance to feel safe in their newly built home. We are proud to partner with Honey Insurance to offer our clients a home insurance policy to protect their largest financial asset.”
Honey is smart home insurance, and is on a mission to eliminate the majority of avoidable accidents that happen in the home. Customers receive $250 of technology complimentary, and ongoing services to keep homes safer when they sign up for house and contents insurance. They are then rewarded with a lower price on their insurance for being proactive. Honey raised $15.5m, the largest seed investment in Australian tech history at the time, 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 BGC Housing Group
BGC Housing Group is WA’s largest builder and one of the most awarded home builders. With a wide range of specialist homebuilder brands to choose from, including HomeStart, Smart Homes For Living, Aussie Living Homes, GO Homes, TERRACE Homes, Now Living and Ventura South West. BGC Housing Group continues to lead the way in affordable and sustainable housing, making home ownership a reality for more Western Australians.