QBE is underwriting a new Australian direct car insurance offering aimed at women by Stella Insurance, a company that was founded by a woman, Ms Sam White, and is staffed by women.
Stella Insurance promises to “challenge some of the male-dominated industries in Australia” and “unleash a surge of female energy and innovation”, according to a report in insuranceNEWS.com.au.
Stella Insurance says on its website that most car insurance products have previously been designed with men in mind, but after consultation the company has launched a policy “specifically for women”.
The company will also donate a share of its profits to support female-led firms.
Ms White manages several insurance operations in the UK, including Pukka Insure and Freedom Brokers.
She told insuranceNEWS.com.au that an EU directive on gender discrimination in insurance prevented her from launching anything similar to Stella in the UK.
Stella Insurance is a collaboration between publisher Bauer Media, UK entrepreneur Ms Sam White’s Freedom Group, Viper Capital and investment firm Envest.
Stella is an authorised representative of Allstate Insurance, with which QBE already has a relationship.