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Kogan to launch life insurance

Life insurance will be added to the suite of services under the banner of Ruslan Kogan’s fast-growing brand,, with the ecommerce business announcing on Thursday morning that its signed a deal with Greenstone Financial services to roll-out the offer.

Under the deal Kogan will utilise its databases and brand to market the insurance, earning a commission on every policy sold.

It is similar to the other insurance deals Kogan has announced in the last twelve months, including a partnership with Medibank for health insurance and several with Hollard Insurance on pet, car, home, landlord and travel insurance.

Kogan said on Thursday that its offer would initially focus on “great value” life and funeral policies, with plans in place to expand the range over time to include “related categories”. director David Shafer said the partnership was a natural extension to Kogan’s growing suite of services.

“We are very pleased to partner with Greenstone, a leader and innovator in Australian life insurance … to offer life insurance products to our growing community of smart Aussies,” he said.

Kogan’s service verticals have emerged as a fast-growing area of the ecommerce company’s business, which also includes a marketplace and retail component.

In FY17 its travel and mobile businesses grew by 6.9 per cent and 3.9 per cent respectively.

Earlier this week Kogan advised that strong trading over Christmas had driven up its half-year earnings and revenue guidance.

Half-year earnings are expected to be more than the 58.3 per cent year-on-year growth it previously reported for the first four months of fiscal 18, while revenue growth is forecast to be above 36.2 per cent.

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