Fresh off the back of a network’s investment in Honey Insurance, PEXA has revealed a partnership of its own with the insurance disruptor.
Just last week, it was revealed that McGrath Limited had invested $6.5 million into the business.
Now, PEXA has forged an alliance with the new kid on the insurance block, with a statement from the digital property exchange platform outlining that together, they will offer buyers “a simpler and smarter option for home insurance”.
The collaboration will benefit users of PEXA Key – who will now have access to Honey Insurance offers directly from the app, which enables buyers and sellers to track their settlement’s progress and removes the need to engage via unsecure communication channels.
According to PEXA, this latest partnership “is an example of PEXA’s broader aspirations to identify, incubate and accelerate entrepreneurial businesses committed to innovation across the property industry ecosystem for the benefit of consumers”.
Honey Insurance founder and chief executive Rich Joffe has said that from the first conversations, “this partnership was perfectly aligned”.
“Both Honey and PEXA are on a very similar mission, to try to make the current process of buying a house easier, quicker and more importantly pain free, and we are excited by the journey we are on to achieve this,” he commented.
PEXA chief customer officer Lisa Dowie has acknowledged property-related decisions “can be both stressful and important given the costs and commitment involved”.
Arguing that its critical innovators remain focused on providing new and enhanced offerings to make the decision-making process simpler and less stressful for all, she expressed the belief that Honey can make a difference.
“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,” she concluded.
ABOUT THE AUTHOR
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.