Awards

Real Insurance is proud to announce that it has won the 2010 Money Magazine Best of the Best Climate Business Award. The presitious Best of the Best awards are now in their 9th year, with Real Insurance previously winning the ‘Cheapest Car Insurance’ category.

Real Insurance has been honoured with the Climate Business award due to its innovative Pay As You Drive car insurance product, which rewards customers for helping the environment by driving less.

Pay As You Drive from Real Insurance, is the first insurance product of its kind in Australia whereby qualified motorists pay only for the kilometres they plan to travel.
 

Recognising that these changing motoring habits reflect people wishing to lower their carbon footprint, Pay As You Drive has partnered with Greenfleet, a government approved greenhouse gas reduction initiative to offer motorists the option to offset their car emissions with a one off tax deductible donation which will assist in the planting of trees. This is just one other way that Real Insurance is innovating to help protect our fragile environment.

 

Exigen Insurance Solutions, the specialist in rapid implementation of new business initiatives and products for insurance, today announced that Celent, a leading research and advisory firm focused on insurance technology strategy, has awarded Exigen client Real Insurance, a division of Hollard Australia, a 2009 Model Carrier award for product innovation and speed to market of its world-first, "trust-based" pay-as-you-drive (PAYD) product.

Awards were presented at the 2009 Celent Model Carrier Summit, January 29 in New York City. Exigen Insurance Solutions’ Lifecycle Management suite for policy administration, billing and claims  operating on the Exigen Insurance Business Process platform enabled Real Insurance to rapidly design, test and launch an industry-first PAYD product into the Australian market.
 

Real Insurance, which launched Pay As You Drive™ car insurance into the Australian market this year, has been awarded Australia’s Cheapest Car Insurance award by Money Magazine.
 

Every year Money Magazine selects the Best of the Best financial products with research conducted by independent research company, Cannex. In judging the car insurance category,Cannex took into account average premiums on 3 different makes and models of vehicle priced between $40,000 and $70,000, and used male and female drivers between the ages of 30-40 across five states.
 

A spokesperson from Money magazine said: "In these tough times consumers need to reduce costs wherever they can and shopping around for car insurance is a must.
 

"Money magazine is pleased to be able to recognise and reward the best products and services – particularly at a time where it's so critical for consumers to rein in their spending."

Roger Grobler, CEO Real Insurance, said: “PAYD has been a revelation since we launched it in the Australian insurance market. 
 

Real Insurance and Australian Unity have topped the industry in terms of innovation, taking out excellence awards from highly regarded financial data and ratings provider Cannex.

Cannex Head of Research Steve Mickenbecker told insuranceNEWS.com.au many innovative banking and insurance products are worth recognising.

Real Insurance’s Pay As You Drive car insurance policy, launched last August, gives members the chance to save if they drive less than the average profile for their age and area.
 

There were six banking products awarded and just two insurance products that met Cannex’s criteria. Mr Mickenbecker says of the 50 to 60 nominees, there weren’t as many general insurance products as health, life and banking.

“The insurance industry is generally more conservative. It is dealing with risk and that doesn’t tend to lead to flamboyant products.”

 

Pay As You Drive from Real Insurance, the first insurance product of its kind in Australia whereby qualified motorists pay only for the kilometres they travel, has won The Best General Insurance Product category at the Australian Banking and Finance Magazine Telstra Insurance awards.
 

Says Real Insurance CEO Roger Grobler: "Pay As You Drive gives people a fair go on their car insurance. We wanted to offer Australians a product which reflects large scale changes in their motoring habits and one which would accommodate these changing needs.
 

The awards were mediated by a panel of leading insurance industry experts including former Suncorp Insurance boss, Diana Eilert, senior Moody’s analyst, Wing Chew and top UBS analyst, Ralph Butterworth.