Aldi Australia launches ‘global first’ for budget supermarket

Aldi has just announced a “global first” for the supermarket, which is launching in Australia.

The German retailer, known for its low prices, is expanding its offer with the insurance company Aldi.

The supermarket said Aldi Insurance offers shoppers everyday financial products such as comprehensive car, home and property insurance at the same competitive quality and price as its ‘Good Different’ grocery range.

Aldi Australia group director Rodney Balech said it was important to offer Australians “value” during the current cost of living crisis.

“Aldi is synonymous with delivering high-quality groceries to Australians at extremely low prices and we’re excited to bring our ‘Good Different’ model to insurance at a time when so many Australians are yearning for better value for their services,” he told ouch.

“Aldi Insurance offers Australians a new way to protect their homes, contents and cars that is clear and simple.”

Aldi said all customers would be treated equally under its insurance product and argued it would differentiate itself from other policies that encourage consumers to jump around by only rewarding new customers.

“Customers getting stung by increased premiums simply because they didn’t shop around is a hallmark of traditional insurance,” explained Mr. Balech.

“Aldi’s insurance philosophy, like its food offering, is a high quality product at the best possible price for every single customer, whether they are a long-term Aldi Insurance customer or brand new.”

The retailer also claimed that there will be “no confusing jargon or hidden exclusions” in the policies, adding offers can be completed in just under three minutes.

Aldi has partnered with Honey Insurance and RACQ Insurance to offer its new range of financial products, stating that the support of “well-established and trusted partners creates the highest quality and ease of insurance” for its customers.

“Just like our grocery offering, we won’t be dealing with one-off rewards or conditional discounts, we want to bring to the insurance market what we’ve successfully delivered in our grocery stores – a trusted, high-quality product with Aussie insurance. partners who provide customers with competitive prices every day,” said Mr. Balech.

“We are proud to bring simplicity to the traditionally complex insurance industry.”

The move, a global first for supermarket chain Aldi, comes after the Australian Bureau of Statistics (ABS) revealed home and car insurance premiums are expected to increase by an average of 16.2 per cent in 2023.

“Higher home, home furnishings and motor insurance premiums contributed to the increase in the cost of living for all household types over the year,” said ABS head of price statistics Michelle Marquardt.

Along with rising insurance premiums, profits have soared at Australia’s biggest insurers, prompting questions about whether they are raising prices.

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