Kogan sees value in growing insurance range
Kogan.com is expanding its range of insurance products, with the launch today of pet insurance, life insurance and funeral cover.
The e-commerce business an array of verticals, from its core of electronics and household items, to mobile plans, travel deals and most recently NBN offerings.
Kogan first moved into the insurance space in July 2017, with the launch of insurance home, contents, landlord, car and travel insurance.
Following its announcement in December that it would add pet insurance to the mix, shares in the listed retailer soared 14 per cent.
Kogan in January revealed it would also add life insurance and funeral cover to its range.
The new offerings are part of an ongoing commitment to make in-demand products and services accessible for all Australians, the retailer said, noting that 62 per cent of Australian households have a pet and collectively spent $12.2 billion on them in 2016.
“We are excited to continue to delight our Aussie customers and extend the Kogan.com insurance offering to include affordable pet insurance for Kogan.com’s community of over 8 million subscribers,” Kogan’s executive director David Shafer said.
“We know pets are an important part of many families, and we’re proud to provide Aussies with a simple and affordable option to ensure their pets are covered, without breaking the bank.”
Kogan Pet Insurance will be underwritten by PetSure, a wholly owned subsidiary of The Hollard Insurance Company, which underwrites Kogan’s existing insurance products.
Kogan Life Insurance will be issued by Hannover Life Re of Australasia Ltd and distributed by Greenstone Financial Services Pty Ltd.
“Kogan.com is very proud to be providing Aussies with life and funeral insurance policies that protect their loved ones,” Shafer said.
“From today, smart shoppers will be able rest peacefully at night knowing they are covered should the unexpected happen.”
Kogan is expected to launch a health insurance product in the second half of this financial year.