Honey

Product brand

Australian insurtech home insurance brand that bundles smart home sensors with home and contents cover and rewards lower-risk customers with premium discounts.

Last updated October 19, 2026

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Overview

Honey is an Australian home insurance brand operated by Honey Insurance, an insurtech venture that positions itself as "smarter home insurance." Rather than competing purely on price, Honey couples the information a customer provides with data about the property itself — size, number of rooms, construction year and building materials — to help select appropriate cover quickly. The company advertises a quote-to-cover journey of about three minutes, versus the roughly thirty minutes it says traditional insurers take. Honey's defining feature is its prevention-first model. When a customer takes out home and contents insurance, Honey invests A$250 in smart home sensors that can alert the policyholder to avoidable mishaps such as fire, water damage and theft. Because those sensors reduce risk, Honey offers an ongoing discount of up to 8% per year on premiums, framed as a reward for being smarter rather than a one-off sign-up bonus. The brand markets itself as "insurance that rewards you everyday, not just one day." Honey serves three main customer segments: homeowners (covering home, contents and valuables), renters (smart and flexible contents insurance) and landlords (cover for investment properties). Claims can be lodged online or by phone 24/7/365, with a team that aims to move quickly on straightforward claims and keep customers informed on complex repairs. Honey's policies are underwritten by RACQ, one of Australia's most trusted insurance brands, which provides the underwriting backing behind the Honey brand. Honey operates in the Australian retail insurance market and is part of a wave of insurtech challengers using connected devices and data to differentiate from incumbent insurers. Its brand identity is built around speed, transparency, prevention and everyday value rather than legacy scale.

History

Honey Insurance is an Australian insurtech brand that emerged in the early 2020s to challenge traditional home insurers with a prevention-first, technology-driven model. The company built its proposition around the idea that home insurance should not simply pay out after a loss but actively help customers avoid losses in the first place. From its launch, Honey differentiated itself by bundling smart home sensors — valued at A$250 — with home and contents policies. These sensors alert policyholders to risks such as fire, water damage and theft. Because the sensors reduce the likelihood of claims, Honey passes the benefit back to customers as an ongoing discount of up to 8% per year on premiums, rather than a one-time sign-up bonus. This "insurance that rewards you everyday" positioning became central to the brand. Honey also invested heavily in the digital customer journey. Its technology identifies property details — size, number of rooms, construction year and building materials — so that customers can obtain a quote and bind cover in about three minutes, compared with the roughly thirty minutes Honey says traditional insurers take. The brand serves homeowners, renters and landlords, offering flexible coverage for essentials and higher-value household items. A key structural element of Honey's model is its underwriting relationship with RACQ, one of Australia's most trusted insurance brands. RACQ underwrites Honey's policies, giving the startup the backing of an established insurer while it focuses on technology, customer experience and prevention. Honey's claims operation is designed around availability and speed: customers can lodge claims online or by phone 24/7/365, submit supporting materials such as photos and receipts, and receive decisions quickly for straightforward claims. For complex repairs, Honey coordinates and keeps customers updated. The brand continues to operate in the Australian home insurance market as a technology-led challenger.

Honey launches as an Australian insurtech home insurance brand offering smart-sensor-bundled home and contents cover.
Honey partners with RACQ, which underwrites its home insurance policies.
Honey introduces an ongoing up-to-8% annual premium discount for customers using its smart home sensors.

Products and positioning

Insurtech challenger offering smarter, prevention-led home insurance with smart sensors and ongoing premium discounts.

Home and contents insurance
Cover for homeowners including home, contents and valuables, bundled with smart home sensors valued at A$250.
Renters contents insurance
Smart and flexible contents insurance for renters.
Landlord insurance
Cover for investment properties for landlords.
Smart home sensors
Sensors valued at A$250 that alert customers to avoidable mishaps like fire, water damage and theft.

Controversies

2020
Amazon warned users about Honey's browser extension
In January 2020, Amazon warned some users that Honey's browser extension could raise security and privacy concerns. An Amazon spokesperson said browser extensions may collect personal shopping data without consumers' knowledge or consent. The report does not establish a determination of wrongdoing by Honey.
Source

2021.06.16
Reported2021.06.16
Honey Insurance raises A$15.5 million seed funding[6]Honey Insurance 获得 1550 万澳元种子轮融资techcrunch.com
Honey Insurance launched with A$15.5 million in seed funding, led by institutional investors including RACQ, PEXA, Metricon, ABN Group, Mirvac, AGL, SFG and Apex Capital.
2021.06.16
Reported2021.06.16
Honey Insurance launches home insurance service[6]Honey Insurance 获得 1550 万澳元种子轮融资techcrunch.com
Honey Insurance launched in Australia, offering home, contents and landlord coverage with smart sensors for customers.
Unconfirmed
Amazon warned users about Honey's browser extension[5]Amazon warned users about Honey's browser extensionitbear.com.cn
Amazon warned some users that Honey's browser extension could raise security and privacy concerns. An Amazon spokesperson said browser extensions may collect personal shopping data without consumers' knowledge or consent; the article does not establish a determination of wrongdoing by Honey.
2019.11.21
Reported2019.11.21
PayPal announces acquisition of Honey Science[7]PayPal宣布收购Honey Sciencezdnet.com
PayPal said it would acquire Honey Science, a shopping and rewards platform, for $4 billion in cash. The deal was expected to close in the first quarter of 2020.
Unconfirmed
Reported2019.11.21
PayPal acquires Honey[8]PayPal收购Honeytechspot.com
PayPal acquired Honey Science Corporation, which develops and maintains the Honey shopping extension; the deal was estimated at $4 billion.

Sources18 sources

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Overview

History

Products and positioning

Controversies

Recent events

Sources18 sources