Kogan.com gets into life insurance

Ruslan Kogan. Image: supplied.

You want life insurance with that?

Kogan.com, the pure play online retailer, has decided to sell life insurance in partnership with Greenstone Financial Services.

Kogan Life Insurance will initially focus on life insurance and funeral insurance but will extend the policy range over time.

Kogan.com has a portfolio of retail and services business units including Kogan Retail, Kogan Marketplace, Kogan Mobile, Kogan Internet, Kogan Insurance, Kogan Health and Kogan Travel.

David Shafer, Executive Director of Kogan.com, says the partnership with Greenstone is a natural extension to Kogan’s existing offerings.

“We are very pleased to partner with Greenstone, a leader and innovator in Australian life insurance market, to offer life insurance products to our growing community of smart Aussies, enabling them to save more of their hard-earned money,” he says.

Kogan Life Insurance is expecting to launch its offering to the Kogan Community within the current half year.

Kogan.com, founded by entrepreneur Ruslan Kogan, reported record breaking Christmas sales, according to preliminary numbers.

The company produced a net operating cash flow of $4.2 million for the December quarter. At the end of December, Kogan.com had cash of $28.2 million, and access to a $10 million bank facility.

Detail on the Christmas sales will be released when Kogan.com announces half year results next month. In August, the company posted a full year after tax profit of $3.74 million, a 362.3% rise.

Its shares last traded at $6.64. The company listed on the ASX in 2016 at $1.80.

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