CGU partners with online mortgage start-up

CGU has partnered with HashChing, an online housing loan start-up to offer home insurance products.

All customers that settle a new or refinanced mortgage through the HashChing platform will receive a one off 25 per cent off their home insurance premium if they buy a policy with CGU.

Stephen Hamilton, National Relationship Manager at CGU, said “We are pleased to partner with HashChing to offer mortgage customers the option to take out home insurance with

“At CGU, we’re always looking for ways to help customers and provide a seamless experience, and this is a great example of that.”

HashChing founder and chief executive Mandeep Sodhi said that his company specifically wanted to secure “a great deal” on home insurance for its clients, since it is a compulsory part of the property purchase process.

“We’re eliminating that last source of friction for home loan settlement on behalf of our customers,” he said.

The rebate only applies once for a new 12-month CGU Insurance policy and settlement must occur within three months of the insurance purchase. HashChing customers will receive an email with a link to buy a CGU policy after their loan is approved, according to the startup.

HashChing is an online mortgage marketplace that shows and compares deals posted by mortgage brokers, rather than the lending institutions themselves. The current pool represents more than 60 lenders, including the big four banks. The company was named in the “emerging stars” list in the Global 2016 Fintech 100.