Kogan.com has again expanded its portfolio offering, this time adding pet and life insurance.
The announcement today follows the launches of Kogan Insurance late last year and Kogan Health in February this year.
Kogan Pet Insurance will be underwritten by PetSure, a subsidiary of The Hollard Insurance Company. Kogan Life Insurance will be issued by Hannover Life Re of Australasia Ltd and distributed by Greenstone Financial Services Pty Ltd.
Earlier this month the pure-play online retailer added the NBN to its suite of services.
The company has an expanding portfolio including Kogan Retail, Kogan Marketplace, Kogan Mobile, Kogan Internet, Kogan Insurance, Kogan Health and Kogan Travel.
Australians spend about $12.2 billion on their pets each year but only a quarter of households have pet insurance.
The Australian Veterinary Association estimates there are more than 24 million pets in Australia. At 62%, Australia has one of the highest household rates of pet ownership in the world.
“We know pets are an important part of many families, and we’re proud to provide Aussies with a simple and affordable option to ensure their pets are covered, without breaking the bank,” says Kogan.com Executive Director David Shafer.
Also launching today is Kogan Life Insurance.
“Kogan.com is very proud to be providing Aussies with life and funeral insurance policies that protect their loved ones,” says Shafer.
In February Kogan.com posted a 45.7% jump in revenue to $209.62 million for the six months to December. Profit was $8.33 million, up 470%.
Shares in the company founded by CEO Ruslan Kogan last traded at $9.13. The company listed on the ASX in 2016 at $1.80.
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