South African insurer opens in Queensland
South African financial services group FirstRand has chosen the Sunshine Coast as the launching pad for its new insurance company, Youi Insurance.
The online general insurer aims to challenge conventional methods of buying insurance, policy administration and service delivery.
Youi CEO Hugh Schreuder told insuranceNEWS.com.au the company chose its base in Maroochydore to capitalise on a fast-growing area that offers employment opportunities for its call centre operations.
It’s a similar strategy to that adopted in 2002 by fellow South African-owned operator Budget Direct, which is also based on the Sunshine Coast.
The online insurance company currently offers only car insurance, but has plans to expand its product offering other personal lines classes next year.
The online general insurer aims to challenge conventional methods of buying insurance, policy administration and service delivery.
Youi CEO Hugh Schreuder told insuranceNEWS.com.au the company chose its base in Maroochydore to capitalise on a fast-growing area that offers employment opportunities for its call centre operations.
It’s a similar strategy to that adopted in 2002 by fellow South African-owned operator Budget Direct, which is also based on the Sunshine Coast.
The online insurance company currently offers only car insurance, but has plans to expand its product offering other personal lines classes next year.