While it might not be the sexiest or most engaging of talking points, car insurance, just like tax and superannuation, is something almost all of us have to deal with – and something that, over time, can cost a lot of money. (Fun fact: in Australia today the automotive insurance market is worth more than $4 billion.)
But with the gender pay gap still far from being closed and Australian women making up 52 per cent of all road users, isn’t it time that we have better value car insurance?
Meet Stella
Now, a new car insurance provider is asking just that by challenging the status quo with an offering designed with female drivers in mind.
Launched in Australia earlier this month, Stella is the innovative car insurance brand that’s rewarding women for being statistically ‘better drivers’ — and getting laughs along the way. In a very uninsurance company-like move, the brand recently teamed up with Australian comedian Gen Fricker for a series of hilarious brand videos.
“Interestingly, through our research, we discovered that a lot of men tend to automatically think that because driving is a physical thing, they should be better at it,” says Stella CEO Sam White.
“But the numbers don’t lie — women are proven to have less accidents and cause less damage in accidents than men,” Sam reveals. “Of course, there are individual instances where this hasn’t been the case but overall, female primary drivers are a safer bet to insure than male. We analyse a huge amount of actuarial data and statistically, this is how it plays out.”
A trailblazer in the traditionally male-dominated insurance world, Sam is passionate about promoting women and diversity in the workplace. After starting her own insurance company at 24, Sam spent the last 20 years building a number of businesses in the UK which have turned over in excess of GBP 18 million (AUD $35 million) and employed more than 200 people.
“It’s been a labour of love, building this brand and business out in collaboration with our female customers to (hopefully) give them a much more intuitive and rewarding experience when it comes to car insurance,” Sam explains.
The Stella way
At the heart of Sam’s drive is the idea of ‘purpose-driven business,’ which is essentially a business model based on both making profit and giving back to the community. Stella aims to change, not only the insurance game, but the game altogether.
Stella considers the needs of women specifically and commits to supporting local, grass root charities that are specifically protecting and empowering them.
“We plan on using a percentage of Stella customers’ premiums to help fund the next generation of female-founded businesses,” Sam says. “With this vision, we hope to support a number of female-led businesses by 2025.”
Car insurance that champions female-powered initiatives? We’ll buckle up.
Common car insurance myths you should stop believing:
The colour of your car affects your policy: FALSE. Insurance policymakers are not concerned about the colour of your car but rather the model, make and age.
Making a car insurance claim is difficult: FALSE. Making a car insurance claim can be seamless, especially when you’re with a policymaker that caters specifically to your needs such as Stella.
Car insurance doesn’t cover modifications and accessories: FALSE. Depending on the type of cover you apply for, your policy may include accessories such as baby seats and even personal belongings.
Brought to you by Stella. Car insurance for women, by women.
Any advice provided is general advice and does not take your personal circumstances into consideration. Please read the Stella product disclosure statement (PDS) available at https://www.stellainsurance.com.au/legal for the terms, conditions, and exclusions before purchasing this insurance. Stella Underwriting (ABN 72 633 811 319) is an Authorised Representative (AR 001282046) of Allstate Insurance Pty Ltd (ABN 82 073 267 053, AFSL 239010) which is acting under its own AFSL on behalf of the product issuer, QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545).
