The Red Shed moves into travel insurance
The Warehouse is hoping its entry into the travel insurance business will shake up the market and result in lower premiums.
The firm aims to become a major player in the insurance market with the launch of its online travel insurance, in partnership with IAG, the country's largest insurance firm.
It has been offering life insurance since 2003, underwritten by Sovereign Assurance, and plans to make that available online under The Warehouse's e-commerce banner by July or August this year.
The Warehouse Financial Services general manager Phil Devlin says there is an opportunity for someone of The Warehouse's scale to shake up the market.
"I think we've got a very strong brand in the market and a strong awareness and good loyalty among the vast majority of New Zealanders," Mr Devlin said.
"If our involvement causes a better deal for New Zealanders we'd be delighted."
The Warehouse has been known for its low-cost consumer product offerings and Devlin said it intended to stay "on the sharp end of the price point" with its travel insurance offering.
