QBE has teamed with national department store chain Myer to unveil a new retail insurance offering to Australian consumers.

Myer-branded insurance allows customers to purchase cover for their homes, cars and holidays. Customers are able to access benefits including multi-policy discounts, no-claim bonuses, excess flexibility and loyalty rewards.

QBE Executive GM Corporate Partners and Direct Tony MacRae says the deal gives the insurer access to a nationally recognised brand’s large customer base.

“This initiative is part of QBE’s corporate partner strategy to extend its personal lines business to key customer segments,” he said. “Partnering with Myer is an important strategic channel for us to grow our personal lines portfolio.”

Pitched as “quality and value-based”, Myer insurance is the latest retail entry into the personal lines insurance market, following earlier initiatives from Australia Post and Coles.

Australia Post-branded insurance is provided by Auto & General Insurance Services, while Coles stablemate Wesfarmers Insurance supplies policies to the supermarket chain.