New Home & Contents cover to revitalise the market
Real Insurance, Australia’s newest entrant to the industry, has taken the first step in its bid to revitalise the insurance market by launching its Home & Contents policy.

The policy will include an innovative cash bonus scheme, under which policyholders will receive 10 percent of their premium back as a cash back payment, if no claim is made for a three year period.

Also, in a major leap forward for the industry, Real Insurance has significantly reduced the size and complexity of its product disclosure documentation, which is less than half of the normal 60 to 100 pages that consumers are asked to digest.

Chief Executive of Real Insurance, Roger Grobler, says the products have been developed in response to research commissioned by the company, to investigate consumer insurance concerns and needs.

“When it comes to insurance, our research showed that people want greater ease of access and simplicity, and cover that is easy to understand. We also found that whilst consumers are attracted to a strong brand that can be trusted, a new brand is just as acceptable as an old one, which is one reason why we are very confident our cover will be very popular,” said Grobler.

“In addition to the ‘Real’ cash bonus, we will ensure that our premium rates remain highly competitive.

“Our product disclosure document contains everything the policyholder will need to know, but we’ve reduced its size partly by taking out what we regard as ‘bogus’ and unwanted covers. For example, cover for credit card fraud is included in many policies even though it is already covered by the bank of the policyholder.

“We’ve also simplified the terminology and the exclusions and limitations in the document, and have made it easier to read by highlighting the most significant aspects of the cover at the beginning,” said Grobler.

Real Insurance products will be directly sold to consumers. Real Insurance is underwritten by The Hollard Insurance Company, who has been licensed by the Australian Prudential Regulation Authority since 2000. Hollard is part of the international Hollard Insurance Group and already insures more than 150,000 policyholders in Australia across several insurance lines, and more than five million policy holders worldwide.

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Released on behalf of Real Insurance by Dennis Rutzou Public Relations.
For further information please contact Dennis Rutzou or David Lizzio on (02) 9413 4244.