Stella Insurance joins the Envest Ecosystem
16th July 2020, (Sydney, AEST):
Stella Insurance is a female-centric car insurance brand designed to deliver a new and cutting edge customer experience and motor product with inclusions unique to the needs of women and families.
A collaboration between Bauer Media, Freedom Group, Viper Capital and Envest – Stella will leverage Bauer media for distribution and insights, the marketing acumen of Viper Capital and the collective insurance experience of the Freedom Group (UK) and Envest.
Envest has supported Stella from idea to conception – providing private equity funds, staff support, local insurance knowledge and access to its Envest Ecosystem.
Managing Director Greg Mullins said leveraging the Bauer distribution network and the experience of Sam White, CEO of Freedom Group, to create a female-centric insurance product not only made sense but would result in better outcomes for the customer and the insurer.
“Envest invests in underwriting agencies that provide unique and tailored products to distribution channels like Bauer media,” Mr Mullins said.
“The Bauer Womens’ magazine assets have a highly engaged audience and I’m sure they will embrace this opportunity to purchase an insurance product that has been designed to meet their needs, rewards them for their loyalty and acknowledges that they are statistically better drivers.
“We’ve partnered up with Sam White and the Freedom Group to deliver the leadership and experience to bring this unique product to market. Sam is really passionate about women’s causes and an incredible advocate for women generally so we’re very excited to be part of this journey.”
Sam manages several insurance operations in the UK, including Pukka Insure and Freedom Brokers. She employs about 250 people in the UK, Gibraltar and Australia.
“Insurance exists to help in times of need, and at Stella we believe our business should play this role in the broader community in which we operate, not just for our customer base,” Sam said.
“Stella will provide a portion of its profits to support female-led ventures to grow and empower future generations of female-led businesses to succeed. Ultimately, our purpose is much bigger than changing the insurance game. Our plan is to change the game, full stop.”
This is the third time Envest has backed a market-led underwriting start-up. Other investments in this space include the incredibly successful Club 4×4 insurance for 4×4 enthusiasts and the home and contents underwriting agency, Domain Insure.
Stella Insurance was released to the market on July 1 with a “soft launch” to family, friends and connections.
GET A QUOTE TODAY – visit Stellainsurance.com.au
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