As part of a $3 million investment in the start-up company, Honey Insurance, AGL has today announced it will begin offering smart insurance products to customers building a new home or renting.

AGL Chief Customer Officer, Christine Corbett said, as Australia’s largest energy-led multi product retailer, AGL is committed to delivering truly customer centric offerings that simplify the customer experience.

“We are taking away the hassle of calling several providers by streamlining customers’ essential services and becoming the one place for energy, broadband, mobile - and now insurance,” Ms Corbett said.

“Honey’s offering uses smart home technology, including sensors that can proactively detect preventable incidents such as fire, water damage or even theft.

“We know customers are looking for smarter solutions with the latest technology to power their lives.”

The investment in Honey Insurance builds on AGL’s Future Business strategy through AGL Next, which delivers innovative initiatives to develop, test and pilot new ideas and programs.

AGL Executive General Manager Future Business and Technology, John Chambers said Honey’s business model and innovative approach provides an exciting avenue for AGL to explore and expand.

“We are concentrating our investments in likeminded businesses that have the technology to make customers’ lives easier,” Mr Chambers said.

“We have seen the success of smart home technology overseas and believe that it is an untapped and growing market here in Australia, where we are quick to take up connected services that make our lives easier.”

Honey Insurance CEO, Richard Joffe said AGL offers Honey incredible scale given their 4.2 million customer services and we couldn't be happier to have a more aligned partner to be our first to market with.

“From the first conversations, we knew AGL shared the same commitment as Honey, to create innovative services for Australians. This is only the beginning of many unique and joint offerings to come,” Mr Joffe said.

The offer will be available through Connectnow, a leading home moving specialist.

Insurance issued by RACQ Insurance Limited ABN 50 009 704 152 AFSL 233 082 and distributed by Honey Insurance Pty Ltd ABN 52 643 672 628, AFSL 528244, AGL Sales Pty Ltd ABN 88 090 538 337 AR 1289534 and Connect Now Pty Ltd, ABN 79 097 398 662, AR 1289536. AGL Sales Pty Ltd and Connect now Pty Ltd are authorised representatives of Honey Insurance Pty Ltd. Conditions, limits and exclusions apply. This is general advice only and does not take into account your personal objectives, financial situation or needs and may not be right for you. Always read the PDS, any applicable SPDS and TMD available on this website before making any decision.