Honey Insurance and McGrath launch partnership

McGrath’s strategic partnership and investment in Honey was first announced in January 2022.

The launch rolls out to the company-owned offices within the McGrath network, and allows their customers, including homeowners and landlords, to access quality products for their home with an innovative and comprehensive smart home insurance service to protect their home and assets. The partnership is based on a digitally embedded referral of Honey’s insurance products, and further enhances McGrath’s ongoing focus on digital experiences that benefit customers. 

With innovative home monitoring, Honey is helping Australians be more proactive in their approach to identifying accidents in the home that may lead to claims. This differentiated approach to home insurance, and the purpose-built sensors that eligible customers can choose to receive as part of their Home insurance, has been one of the biggest shifts in the insurance industry that Australia has seen in some years. The partnership with McGrath is an important milestone in Honey’s penetration into the residential real estate agency channel, offering more Australians access to smarter solutions for home and contents insurance.

Homeowners have a lot to think about through the home-buying process, and through this partnership McGrath will be able to provide a value-added service, further supporting their clients by streamlining the protection of their new home.

Richard Joffe, Honey Founder and CEO said, “Over the past year, we have worked closely with McGrath management to create a fully digitised experience for their customers to purchase home insurance in under 3 minutes.” 

“We know that buying a house is one of the biggest life decisions we make. Honey and McGrath are excited to have found a way to help Australians spend more time enjoying their house, knowing that their biggest asset is being proactively protected”.

John McGrath, Managing Director and CEO of McGrath said, “Part of my vision is to create a total solution offering for our customers, whereby we offer a suite of products for all their needs.  We believe that the Honey model is the future of insurance, with quality products available through an easily accessible digital channel.  We are committed to offering our customers – owners, landlords, and tenants the best available products and services at competitive pricing.”

Honey has recently been recognised by a number of publications for excellence in insurance innovation over the past month, including making it to the AFR’s list of most innovative businesses in Australia and winning Finder's most innovative insurance product.  

About Honey

Honey is smart home insurance, and is on a mission to eliminate the majority of avoidable accidents that happen in the home. Honey gives customers $250 of technology upfront, and ongoing services to keep homes safer when they sign up for house and contents insurance. Customers are then rewarded with a lower price on their premium for reducing the risk in their home. Honey raised $15.5m, the largest seed investment in Australian history, from industry leaders such as AGL, Metricon, Mirvac, PEXA, and many others. Honey is underwritten by RACQ, one of the most trusted insurance companies in Australia.