Butter Insurance brings sexy back to industry with insurance-at-checkout
Summary
Butter Insurance offers users subscription-style insurance at checkout for purchases such as smartphones and laptops, with the option of paying for the insurance cover on a monthly or yearly basis and the ability to back out at any time with no cancellation fee.Butter users can then access one central web-app to do everything from viewing and managing their insurance policies, tracking claims, and updating payments.Its insurance-at-checkout feature and centralised app management have led to its description as AppleCare meets Afterpay, Business News Australia reported.Insurance is the un-sexy corner of financial services that has been ignored for too long, said Bell. By partnering with retailers and using open banking integrations, Butter aims to make the process of taking out insurance seamless and simple. Its collaboration with Australian Payments Plus also means that Butter Insurance will be integrated with eftpos QR, giving consumers the option to make payments with their smartphone by scanning a QR code.Bell said that Butters research revealed a direct correlation between having an option for insurance at checkout and customer loyalty and spend. They noted that many retailers refused to venture into insurance anyway, because it detracts from their core business offering. Butter Insurance addressed that issue with a plug-and-play solution and a fresh brand that spoke to customers.Our policies are also designed to meet the lifestyles and expectations of our customers, Skevington said.