Turners invests $1m in online venture
Turners Automotive Group has invested $1 million in Quashed, a New Zealand online insurance platform, and secured a 13 per cent stake in the business.
Quashed allows consumers to compare prices and coverage from multiple providers across motor, contents, home, pet, and life insurance and is approaching its near-term goal of 100,000 users.
Consumers can also use the platform to access and manage all their insurance policies in one location.
Turners says the investment aligns with its partnership strategy to provide more value to the company’s customer base via complimentary digital offerings.
Todd Hunter, pictured, chief executive, adds: “Insurance is something that everyone needs and is clearly complementary to our core business of selling used cars.
“We want Kiwi consumers to be protected and Quashed enables this through the effortless comparison of a multitude of policies, pricing and features.”
Justin Lim, Wenbo Li and John Ganzan, Quashed co-founders, say they are happy to welcome Turners as an investor. They note Turners’ strategic expertise and customer network will help accelerate the platform’s goal to make insurance simple and accessible for everyone.
