5 Mar 2021

Online insurance platform aims to simplify policy information

6:59 am on 5 March 2021

A new online platform is promising to revolutionise the way people buy insurance.

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Photo: 123RF

Touted as the 'Sharesies' of insurance, after the online tool bringing sharemarket investment to the masses, 'Quashed' has just raised $600,000 from investors to help it expand.

The free tool allows users to upload all of their policies and then have them presented in a comprehensible way, making it clear what they were covered for and how much it was costing them.

Quashed founder and chief executive Justin Lim said recent changes to regulations allowed for the sorts of automated tools they used to analyse policies.

"A lot of us find ourselves dealing with at least three insurers today. So the technology sort of picks up that information and serves it to you on a dashboard that makes it really, really clear and simple. So we're trying to show customers what really matters inside their insurance policies. You know, how much they're spending, what they're covered for, and when is the renewal coming up?"

A newly added feature gathered together a variety of policies for people to choose the best one for them.

"For us, it's how do we focus on, you know, this population of people that just don't want to talk to anyone at the moment, they just want to explore. So we're really building that tool for them to go ahead and explore at their own pace at their own time."

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