Honey Insurance (Honey), a start-up insurance company offering the first tech-driven home and contents insurance in Australia, has partnered with fellow start-up PEXA Group Limited (PEXA) to offer Australians a simpler and smarter home insurance option via the latter's award-winning app.
Called PEXA Key, the free and secure app enables Australian homebuyers and sellers to track their settlement's progress in real-time, communicate critical information such as payment directions to their representative, and access educational material on what to expect when transacting property.
It also offers users helpful checklists, and acts as a one-stop-shop to take as much stress out of the settlement and moving process as possible, and removes the need to engage via unsecured communication channels, such as e-mail.
The partnership will also enable PEXA users to access the Honey Platform and its new and innovative insurance offers.
Read more: Honey Insurance partners with home builder
Teaming up with Honey is part of PEXA's plans to identify, incubate, and accelerate entrepreneurial businesses committed to innovation across the property industry to help its customers further.
“Property-related decisions can be both stressful and important given the costs and commitment involved, so it is critical innovators remain focused on providing new and enhanced offerings to make the decision-making process simpler and less stressful for us all,” said PEXA chief customer officer Lisa Dowie.
“Honey has not only acknowledged consumers are more time-poor than ever – being at the point of ‘property-related decision fatigue’ by the time they are looking at home insurance – it has changed the game by offering smart tools to reduce the chance of an incident occurring, therefore mitigating the stress of loss and the need to claim.”
Honey founder and CEO Rich Joffe stated that both start-ups have a similar mission – to make the current homebuying process easier, quicker, and pain-free.
“PEXA revolutionised how Australians exchange property, and Honey is doing the same for the home insurance industry; that's why we knew from our very first conversations that this partnership was perfectly aligned,” Joffe added.
Since its launch, Honey has been entering strategic partnerships – the latest one with home builder Metricon Homes (Metricon) to provide customers with a modernised home insurance purchase experience when buying newly built Metricon homes.
