Bupa in partnership with InsurTech to offer car, home and travel insurance

Digital insurance Open has formed a partnership with Bupa under which Bupa members will have access to Open’s omnichannel car, home and travel insurance products, beginning in July 2022.

Open powers the car, home and travel offering, allowing customers 24/7, online access to buy and manage policies, lodge and manage many claim types. The partnership is seen as building on Bupa’s commitment to providing digital insurance experiences for their customers.

Open’s co-founder and CEO, Mr Jonathan Buck, said, “This partnership with Bupa is Open’s biggest to date and is an incredible opportunity to bring simple, powerful insurance to more Australians. Bupa will be leveraging the best of Open’s white-label insurance products and embedded technology to provide a truly omnichannel insurance experience for their customers.”

Bupa Health Insurance managing director Chris Carroll says the new partnership with Open Insurance is a win for customers.

“On our home, car and travel insurance policies, as part of our new partnership with Open, Bupa customers will be in control of what they want included, leading to more flexible pricing and only paying for what they need,” Mr Carroll said, “Our members will benefit from a streamlined digital experience across sales and service including claims and thereafter being able to view their policies on the myBupa app backed by phone support.”

Mr Buck said, “So much of the insurance industry is still encumbered by legacy technology and processes. For customers, this means long email chains, waiting on the phone for help or repetitive paperwork. It’s a customer experience that doesn’t match up with what people expect in this day and age.

“Nowadays, people can do all of their banking online and can invest through apps – we’re bringing that digital-first experience to insurance and it means that Bupa members can manage their policies where and when they want.”

Going to market quickly

After years of innovating their digital health insurance experience, Bupa sought to find a digital insurance partner that could go to market quickly with car, home and travel insurance.

Open’s chief revenue officer, Bayne Carpenter, said, “In just 10 weeks, we’re providing Bupa with an end-to-end solution that delivers the superior, digital customer experience they’re looking for.

“Typically, a partnership like this would take double the time to get live. The team at Bupa saw that our value proposition was already in-market and proven and we could white-label it quickly for Bupa. It wasn’t a promise of what was possible with an uncertain outcome and timeline.”

The partnership with Bupa is significant for Open which has recently surpassed 100,000 car, home and travel policies sold to date since being founded in 2016.

Bupa is an international healthcare group which has been committed to a purpose of helping people live longer, healthier, and happier lives and making a better world for more than 70 years.

Bupa Asia Pacific operates in Australia, New Zealand and Hong Kong, supporting about 6.5m customers through a broad range of health and care services including health insurance, aged care, dental, medical, optical and hearing services.

Businesses embed Open’s car and home insurance into their digital experiences. The company’s flagship products are available under the Huddle brand in Australia, and through bespoke white-label solutions. Open works with many large brands and leading tech companies such as Telstra, Plenti and ahm.

Open works across Australia and New Zealand, and will soon expand to the UK and Europe.

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