Smart home insurance start-up Honey Insurance (Honey) has partnered with residential agency McGrath Estate Agents (McGrath) as it continues to simplify the insurance experience in Australia.
First announced in January 2022, the strategic partnership and investment will see Honey roll out its products within the McGrath network – enabling customers, including homeowners and landlords, access to quality products with an innovative and comprehensive smart home insurance service to protect their home and assets.
Honey founder and CEO Richard Joffe said the insurer had worked closely with McGrath management over the past year to create an entirely digitised experience for its customers to purchase home insurance in under three minutes.
“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,” he said.
The partnership is based on a digitally embedded referral of Honey's insurance products and further enhances McGrath's ongoing focus on digital experiences benefitting customers. With innovative home monitoring, Honey helps customers be more proactive in identifying accidents at home that may lead to claims.
McGrath managing director and CEO John McGrath commented: “Part of my vision is to create a total solution offering for our customers, whereby we offer a suite of products for all their needs. We believe that the Honey model is the future of insurance, with quality products available through an easily accessible digital channel. We are committed to offering our customers – owners, landlords, and tenants – the best available products and services at competitive pricing.”
Honey was recently recognised by several publications for excellence in insurance innovation, including making it to AFR's list of most innovative businesses in Australia and winning Finders' most innovative insurance product. It also celebrated its first anniversary by entering the Western Australian (WA) market and teamed up with various companies, including financial aggregator Specialist Finance Group, mortgage aggregator Finsure, and fellow start-up PEXA Group Limited (PEXA).
