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Red Sheds to sell travel insurance online National Business Review

05.05.10

The Warehouse is targeting the $90 million market for holiday insurance in a new venture with the country’s largest insurer IAG.

Today, the retailer launched a online travel insurance store offering comprehensive cover for worldwide travel – with The Warehouse’s bargain price promise.

Travel insurance has been available on a small scale throughout Red Sheds stores for eight years, for purchase in four-day blocks.

So far it has captured only 2% of the market, dominated by Southern Cross.

Now, it’s hoping to capitalise on the high volume of weekly traffic to The Warehouse Online and the large number of Kiwis who travel overseas without insurance – an amount the Warehouse estimates to be between 20-40%.

General manager of The Warehouse’s financial services division, Phil Devlin said the company understood many uninsured travellers were unsure where to buy insurance and found the products difficult to understand.

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