Australia Post to Offer Car Insurance Products

Australia Post has announced that it will enter the insurance sector by offering car insurance online and via the phone. Travel and home and contents insurance will also be on offer in the coming months.

Australia Post said that its car insurance features a life-time guarantee on all repairs, a protection option, flexible payment terms, choice of repairer, accident hire car option and also allows choice of agreed or market value.

It will promote insurance throughout its retail network. To take up insurance, customers can pick up a brochure at a participating Australia Post retail outlet, call the hotline or visit the website, said Australia Post.

Andrew Wiseman, group manager for financial services at Australia Post, said: "Australia Post has the trust and expertise to meet the needs of customers. We already handle 177 million transactions a year and provide financial services for more than 75 financial organizations.

"For us insurance was a logical next step, we are a well-known brand and we have the expertise in the financial services area. The success of this model overseas gives us real confidence in the future of Australia Post Insurance."