Bupa elevates car, home and travel insurance offerings in partnership with Open

Bupa elevates car, home and travel insurance offerings in partnership with Open

Open, an award-winning digital insurance company based in Australia, is proud to announce a new partnership with Bupa.

Beginning July 2022, Bupa members will have access to Open's omnichannel car, home and travel insurance products, in a partnership that builds on Bupa’s commitment to providing digital insurance experiences for their customers.

“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,” says Open’s co-founder and Chief Executive, Jonathan Buck.

Bupa Health Insurance Managing Director Chris Carroll said the new partnership with Open Insurance was 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.”

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.

“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,” says Buck. “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. The team at Bupa are passionate about providing their members with a brilliant digital insurance experience, and we’re excited to be partnering with them to deliver on that promise.”

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 fits the bill with its award-winning insurance products and proprietary technology designed to integrate and onboard new partners through powerful APIs and SDKs.

“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,” says Open’s Chief Revenue Officer, Bayne Carpenter. “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.”

“Being an InsurTech, we’re always improving our offering to see how technology can enhance the insurance experience,” says Carpenter. “Over the past year, we’ve improved our quote flows and portal experience where customers manage their policies and claims. We’ve also improved our machine learning models that power our instant claims technology.”

This is a significant partnership for the growing InsurTech that has recently surpassed 100,000 car, home and travel policies sold to date since being founded in 2016.

“Open is on a mission to provide the fastest insurance, at the best price, for the world. We’re a company that is hyper-focused on customer outcomes. Bupa is too, and that’s why we’re so excited about this partnership,” says Buck. “The future of insurance is digital, and giving more power to the consumer – this model is disrupting the market and we can’t wait to launch.”

About Bupa

Bupa is an international healthcare group which has been committed to a purpose of helping people live longer, healthier, 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 6.5 million customers through a broad range of health and care services including health insurance, aged care, dental, medical, optical and hearing services.

Employing more than 20,000 people in the region, we believe that we can make a real difference to the lives of customers through our values, purpose and the way that we deliver personalised care.

Since 2002, we have reinvested approximately $6 billion in the region, with the Bupa Foundation investing more than $34 million to support 130+ health and care projects.

About Open

Open is on a mission to offer the fastest insurance, at the best price, for the world. Businesses embed Open’s car and home insurance into their digital experiences. Our flagship products are available under the Huddle brand in Australia, and through bespoke white-label solutions. We work with many large brands and leading tech companies such as Telstra, Plenti and ahm.

Open operates across Australia and New Zealand, and soon will expand to the UK and Europe. We are proud to count Airtree Ventures (AU), Movac (NZ), Latitude (UK), The Hollard Insurance Company (AU), Seven West Media (AU) and Five V (AU) amongst our investors. Open products are underwritten by The Hollard Insurance Company in Australia and Tower Ltd. in New Zealand.

We believe in using business as a force for good and are a certified B Corporation.

For more information visit beopen.com or contact media@beopen.com