Aldi Australia is moving into the insurance sector with the launch of Aldi Insurance.

Like its grocery proposition, the retailer says it wants to make insurance straightforward by providing Australians the best value and experience at consistently competitive prices.

“We won’t be engaging in one-off rewards or conditional discounts; we want to bring to the insurance market what we have successfully delivered in our grocery operations – a trusted, high-quality product with Aussie insurance partners that delivers everyday competitive prices for customers,” said Rodney Balech, group director of Aldi Australia.

Aldi will offer policies for home and contents insurance, car insurance and landlord’s insurance.

“We have stripped the complexity out of comprehensive car, home and contents insurance and landlord’s insurance to deliver a straightforward product with exceptional value,” said Balech.

The new insurance product offering is in line with Aldi’s brand DNA, saving customers time and money.

Aldi’s expansion into the insurance industry will be backed by Australian insurance leaders Honey Insurance and RACQ Insurance.

“At Honey, we put the customer at the centre of how we design insurance, from coverage to the simplicity of getting a quote or making a claim,” said Honey Insurance founder and CEO Richard Joffe.

“Partnering with Aldi was a natural fit given our shared desire to bring a more trustworthy and straightforward insurance product to Australian customers.”

Customers can get a quote and their home insured in as little as three minutes thanks to Aldi Insurance’s technology via Honey, which ultimately speeds up the traditionally lengthy process.