Huddle

Blog: Were making insurance honest again -

We’re making insurance honest again

A brief introduction to how Huddle is putting the trust back into insurance.

Before starting Huddle, we spent many years helping large insurance companies improve their products and design new ones for the future. To do this, we had to understand how customers thought about insurance; and answering that question was hard, as this entry in urban dictionary shows. Many people think insurers rob them of their money by hiding behind the small print and avoiding paying claims.

This saddens us greatly, because when you scratch beneath this murky surface, insurance is actually a beautiful proof-point of humankind. Every year, some of us get unlucky: we get sick; we lose or damage our most valuable possession; our community is destroyed by flood; an earthquake devastates our city. In every case, insurance is there to help us pick up the pieces and start again. And through insurance, the lucky ones are able to look after the less fortunate.

Yes, insurance sure has an image problem. But unfortunately, some customers have a problem too: Australian insurers pay out over $2 billion each year for fraudulent claims. That’s a lot of bad apples.

What has this led to? Insurance companies feel forced to do more checks and more paperwork, slowing down the claims process, inflating costs and frustrating everyone. Honest people with legitimate claims are made to feel like criminals. And the majority, who don’t claim, see their premiums go up year after year as fraud and detection costs spiral. Suddenly it seems clear why insurance is so unloved and untrusted.

At Huddle, we believe that buying insurance should be one of life's little pleasures: like donating to a charity that captures your heart, checking on an elderly neighbour, or baking a cake for your friends. And we’ve created a formula to make it one.

We start with a model that’s clever and honest. When you buy Huddle insurance, you're joining a special group of people. People who care, who look out for each other and the world. We hire incredible people who are passionate about helping you. And we apply amazing technology that keeps fraud out and pays claims in minutes, not weeks.

The result? You get insurance that’s both brilliant and affordable. And with less fraud, there’s extra profits to share with Huddles who fund projects that inspire and help build a better world.

Because helping you, means the world to us.