Slingshot announces insurance partnership to further reduce customers' bills

Insurance, internet, mobile and more can be paid via a single bill.
Insurance, internet, mobile and more can be paid via a single bill. Photo credit: Supplied / Slingshot

New Zealand telco Slingshot has announced a new partnership that has the potential to save Kiwis hundreds of dollars if multiple bills are bundled together.

The deal with digital insurance company Open will allow house and contents insurance to be combined with energy, mobile and broadband into a single bill.

The company said new customers with eligible broadband, power, mobile and house and contents insurance can save up to $360 on their broadband per year, with additional mobile and insurance policies earning more discounts.

Taryn Hamilton, Slingshot's chief consumer officer, said the partnership marks another first for the company.

"We're constantly looking for opportunities to add value for our customers… making Kiwi's lives easier.

"As New Zealanders come under pressure from inflation, by bundling more services we can pass bigger discounts on to customers, on a single bill that saves everyone time."

Open co-founder and chief executive Jason Wilby said the company was on a mission to provide the fastest insurance in the world at the best price.

"One of the biggest challenges with insurance today is that it's not there to buy when it's needed the most," he said.

"Bundling insurance products with Slingshot's broadband services presents clear and simple cover offerings through a brand people already know and trust."

Customers will be able to pay their bills weekly, fortnightly or monthly, Slingshot said.

Existing Slingshot customers who bundle their house or contents insurance - or both - with an eligible Slingshot broadband plan benefit by saving up to $120 a year.

A poll of customers found 95 percent understood the value of insurance, but half of respondents didn't know the cost of rebuilding their home.

This leaves these individuals exposed as they might be under-insured, the company said. In the event of a disaster, this would leave losses uncovered.

Hamilton said the reasons why people stuck with their current insurers were interesting, including price, reputation, convenience, trust, discounts and customer service.

That's despite some companies making it hard to claim and offering little digital innovation.

"Our customers already know and appreciate the service and flexibility they get from their broadband and power services; the same can be expected from affordable, easy-to-buy insurance," he said.

"Everyone should regularly review their utilities to see if you're getting the best deal – and, of course, review your insurance for appropriate cover."

Hamilton said the use of modern technology in the new partnership should be a competitive advantage.

"A fully digitised insurance process from buying cover straight through to claims processing is faster, more efficient, and therefore costs less. Slingshot Insurance customers are equipped to self-manage many aspects of their cover online, from taking out a new policy to lodging most claims," he said.

Open is underwritten in New Zealand by general insurer Tower Ltd.

Other broadband providers also provide benefits for those subscribing to multiple services.

Vodafone offers discounts for those who have both mobile phone plans and internet plans with the company, while Spark offers free standard Netflix plans for broadband customers.