Sharesies expanding into insurance

[Untamed]

Just read an article from MoneyKing. Apparently Sharesies is branching out into insurance now. Starting with car insurance, but no word on when this will launch.

They are no longer the same Sharesies they were back when I first invested with them.

[Raven]

Just read an article from MoneyKing. Apparently Sharesies is branching out into insurance now. Starting with car insurance, but no word on when this will launch.

They are no longer the same Sharesies they were back when I first invested with them.

I suspect they are still losing money, so having to expand out into more and more different things to try and balance the books.

[Basil]

Yeah...when, (not if), we get another major weather event and more than 10,000 cars have to be written off with water ingress, I am sure people can absolutely trust Sharesies to pay out quickly, or can they ?

[Untamed]

Yeah...when, (not if), we get another major weather event and more than 10,000 cars have to be written off with water ingress, I am sure people can absolutely trust Sharesies to pay out quickly, or can they ?

MoneyKing guy (forget his name) mentioned Sharesies will be more than likely  be offering their insurance through someone like Tower, as they have with their savings account. Personally, I just don't see the point. Why would someone go via Sharesies rather than directly to Tower (or whoever)?

[Untamed]

Comprehensive cover only - no option for third party. No use for people like me who had their car written off after the Timaru hailstorm, and now only qualify for basic third party.

If they're going to do insurance they should do it properly.