ExtrasJar is delighted to offer beneficial health and pet extras coverage to a larger population of our fellow Australians following the completion of our seed round funding. We successfully secured $600,000 bannered by our lead investor, Sydney Angels, a not-for-profit angel investment membership organisation established in 2008.
Sydney Angels management committee member Adrian Bunter highlighted that they are thrilled to be a part of ExtrasJar in shaking up the insurance industry. According to him, ExtrasJar is one of the best companies he has seen among over 2,000 start-ups in the past two years, which led to a successful investment.
Insurance Business Australia, a leading business magazine and website for insurance brokers and industry professionals, made the announcement. They provide news, opinion, and in-depth analysis about insurance-related matters and have a wide readership that reaches even beyond Australia like New Zealand, Asia, and the United Kingdom.
We at ExtrasJar, offer products that will address what we believe to be the “biggest shams in the industry” regarding health extras coverage. Additionally, we take it further by including pet extras coverage because we consider them part of the family too.
ExtrasJar Co-founder John Connor said “On average, Australians are losing more than half of their health insurance extras. That’s approximately $514 each per year and over $10,280 over 20 years,”
With an ExtrasJar Extras Account, our customers can spend their money on extras any way they want. They can now say goodbye to paying premiums for plans with treatment coverage that they don’t necessarily need.
“It’s your money to spend on the treatments you want – not what the health insurance company says you can spend it on. Think of it like a forced savings plan where a nominated amount gets transferred into an account for you to spend on your health when you need it. It’s your money – not the insurance company,” said ExtrasJar co-founder, Reece Frazier.
Any unused extras money will roll over year after year until our customers need to spend it either on dental, physio, or optical treatments. Moreover, their unused funds will also be invested in the ExtrasJar Managed Investment Scheme to have the potential to grow further in the future.
We are thankful for this feature by Insurance Business Australia as it is a huge contribution to reaching our fellow Australians and informing them that the revolution is here – ExtrasJar is ready to protect more Aussies.
Read the full article here.
