Kogan.com Independent Media Reviews
Kogan.com rolls out an insurance brandAFR |
ASX-listed online retailer Kogan will use its six million person strong database to sell a white-labelled home, contents, landlord, car and travel cover under the name Kogan Insurance. A little more than a year after debuting on the ASX, the small cap has been using its budget-beater brand to expand into utility services, building on its fastest growing business unit Kogan Mobile and Kogan Travel. "We continue to build on our portfolio strategy which we believe will provide continued growth verticals for the business," David Shafer, executive director of Kogan.com, told The Australian Financial Review. "Today Kogan.com's offering spans retail, mobile, broadband, travel and now insurance. Kogan is a brand known for price leadership through digital efficiency so we are constantly assessing opportunities to bring our community better deals on products and services that are in high demand." Kogan has formed a relationship with global insurer The Hollard Insurance Company to market their insurance products online for an initial period of three years, earning a commission on all policies. Hollard will provide underwriting and operates in 20 counties, and has 700,000 customers in Australia. Globally it has 7 million policyholders and $2.2 billion in gross written premium. The pure-play online sales company's move into insurance comes as investors tip that Kogan founder Ruslan Kogan has similar deals coming, including a shift into Australian energy retailing. Last month Kogan.com signed a deal with its partner Vodafone to offer fixed-line NBN services in 2018 as well as mobile broadband plans in 2017. This extended the Kogan.com and Vodafone partnership across both mobile and fixed line services for an additional four years to 2022.