About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Sunday, September 15th, 2:22PM
rss
Latest Headlines

Mosaic signs Aussie deal

Mosaic, the company backing  online insurance offer Volo, has sold a licence for its platform and products to an Australian operator.

Thursday, November 12th 2015, 6:00AM

by Susan Edmunds

Volo is a no-advice product that is a combination of health insurance and income protection. Premiums are affected by occupation but are steady for people aged 18 to 35.

There are no health checks or records needed to apply, and whether you are a smoker makes no difference. Pre-existing conditions are not covered.

The policy then provides set amounts it will pay out in cases of surgery, cancer, fractures, and temporary and permanent disability.

Volo announced this week it had signed its first international contract.

Co-founder Andy Baird said the Australian operation that had taken out a licence would use its brand, platform and products, but could choose to operate under its own name if it wanted to.

The price has not been revealed but the immediate payment represents more than the $1 million Mosaic had sought to raise via crowdfunding platform Equitise.

It has now seeking a minimum $100,000 and a maximum $600,000 from crowdfunding investors, for product development and launch costs.

Baird said the Australian deal reduced the need for crowdfunding but there was still a desire among investors for shares in the company, which it wanted to cater for. “It’s good to support your supporters,” Baird said.

Baird said the deal was validation of Mosaic’s ability to create innovative products and use new technology. "We knew we had a great product and platform for the New Zealand market, this confirms it's also attractive in Australia and beyond."

He said the customer response to the Volo offer had been positive.  The aim was to expand into other parts of the world.

“New Zealand is a great market but in the world there is a lot of potential. With generation Y, generation Z and how they like to buy and engage, we think there is a lot of potential worldwide.”

Tags: Volo

« AIA hands in FSC notice Commission regulation not likely: Goldsmith says »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Asteron and Fidelity go head to head for award

nib enters ASX 100
nib health funds has been added to the ASX 100 index as part of the September 2019 quarterly rebalance of the S&P/ASX Indices.

AIA's shot at a TV ad
AIA New Zealand joins forces with Dame Valerie Adams to help Kiwis live healthier, longer, better lives.

Southern Cross recognised
Southern Cross Health Society has been recognised as one of Australasia’s top 10 ‘Most Innovative Companies’ for BeingWell, its corporate health and wellness programme.

News Bites
Latest Comments
  • Scrub up or ship out
    “What a very rude and arrogant statement from the head of a group who were put in place at government level to assist and...”
    2 days ago by Winka
  • The willful ignorance of a miopic point of view
    “Good examples of why the Internet is the very worst place to get Life, Disability or Health insurance. No one to help when...”
    3 days ago by Tash
  • Anti-commission advocate appointed to FMA board
    “JP I wonder if she has Insurance herself and if she bought direct or has an adviser ? Maybe you should contact her and offer...”
    3 days ago by Macman
  • [GRTV] A taste of MDRT Global
    “Congratulations to Emily Tsai from NZ on being on the main speaker platform. A reflection of the high standards she has always...”
    3 days ago by Bernard McCrea
  • Anti-commission advocate appointed to FMA board
    “Whilst I don't want this to be a personal attack on anyone, the reality is that most people who haven't worked in the financial...”
    3 days ago by Pragmatic
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com