Real Insurance

What Real Insurance does

Real Insurance is the consumer-facing trading brand of Greenstone Financial Services Pty Ltd, an Australian private financial services company headquartered at 50 Norwest Blvd, Norwest NSW and operating in the Australian market since 2005. The company is a direct-to-consumer insurance distributor that aggregates nine product lines under a single brand: life insurance (including term life, SMSF-specific cover, and add-ons for Total & Permanent Disability, Serious Illness, and Children's cover), income protection, funeral, health (hospital and extras tiers issued by nib), pet (administered by PetSure, insured by Hollard), home, landlords, car (comprehensive, Pay As You Drive, and third-party options), and travel (issued by Allianz and managed by AWP Australia). Real Insurance does not underwrite risk on its own balance sheet; instead, it distributes products through white-label and agency arrangements with The Hollard Insurance Company (general insurance), Hannover Life Re of Australasia (life insurance), nib (health), PetSure (pet), and Allianz/AWP Australia (travel), earning commission on distributed premiums.

The technology stack is built around self-service digital distribution: online quote engines for each product line hosted on realinsurance.com.au, a My Account policy management portal, a Life Insurance Calculator that estimates required cover based on financial inputs, and a DocuSign integration for electronic beneficiary nominations. The Real Reward loyalty programme returns 10% of first-year premiums after 12 months on eligible products. Real Insurance sells exclusively through its own digital and phone channels (13x numbers, Australian-based service team) with no intermediary brokers or aggregator partnerships disclosed, targeting everyday Australian consumers and families seeking affordable, simple-to-purchase coverage. Pricing is quote-based, calculated on individual risk factors including age, health, lifestyle, occupation, and coverage levels, with billing on monthly, fortnightly, or annual cadences. The company has accumulated 17 consecutive years of industry awards, a 4.6/5 Feefo rating from 5,858 reviews, and reports protecting "thousands of Australians" across its portfolio. Headcount is reported at 501-1,000 employees and the business is privately held with no disclosed parent company, funding rounds, or revenue figures.

Name

Real Insurance

Legal name

Greenstone Financial Services Pty Ltd

Website

https://realinsurance.com.au

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Real Insurance is an Australian direct-to-consumer insurance distributor (trading brand of Greenstone Financial Services Pty Ltd) offering nine product lines — life, income protection, funeral, health, pet, home, landlords, car, and travel — to individual Australians and families, distributed online and via phone through partnerships with underwriting carriers including Hollard, Hannover Life Re, nib, PetSure, and Allianz.

Ownership category

akta.pro rank

Product category

Personal Insurance

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

akta.pro secondary industries

Individual Health Insurance Brokerage & Distribution (FSAIAEAL), Travel Medical Insurance (Individual) (FSAIAEAI)

Keywords

• Life insurance coverage
• Income protection plans
• Home contents insurance
• Pet health insurance
• Travel insurance policies

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Insurance Premiums: Real Insurance generates revenue through insurance premiums collected from policyholders. Products include life insurance, income protection, funeral, health, car, home, landlords, pet, and travel insurance. Premiums are collected on a recurring basis (fortnightly, monthly, or annually) and are calculated based on individual risk factors including age, health, occupation, and coverage amounts selected.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Real Insurance is a direct-to-consumer Australian insurance distributor that markets and sells a portfolio of nine personal insurance products — life, income protection, funeral, health, pet, home, landlords, car, and travel — to individuals and families. The brand is operated by Greenstone Financial Services Pty Ltd (AFSL 343079) as an authorised agent, with underwriting provided by specialist partners including The Hollard Insurance Company (general), Hannover Life Re of Australasia (life), nib (health), PetSure (pet), Allianz (travel) and AWP Australia (travel). Customers are onboarded through online quote engines, an Australian-based phone sales team, and a self-service My Account portal, with a no-medical/blood-test life insurance application, a Pay-As-You-Drive car option and the Real Reward™ loyalty programme returning 10% of the first year's premium after 12 months.

Product overview

Real Insurance is an Australian insurance aggregator and distributor offering a portfolio of 9 core insurance products: Life Insurance (including Term Life, SMSF-specific cover, and add-on options for TPD, Serious Illness, and Children's cover), Income Protection Insurance, Funeral Insurance, Health Insurance (Hospital and Extras), Pet Insurance (three tier levels), Home Insurance (building and contents), Landlords Insurance, Car Insurance (comprehensive, pay-per-kilometre, and third-party options), and Travel Insurance. The company operates as a distributor (trading as Real Insurance, underwritten by partners including The Hollard Insurance Company for general insurance, Hannover Life Re for life insurance, nib for health, PetSure for pet, and Allianz for travel). The core offering centres on direct-to-consumer insurance sales with online quoting, with The Real Reward loyalty programme returning 10% of first-year premiums. The product architecture is modular for life insurance (with optional add-on covers), while other products use tiered coverage options (e.g., pet insurance tiers, health hospital tiers).

Differentiator

Problem solved

Functional benefit

Brands

• The Real Reward™: Loyalty program offering 10% of first year's premium back after 12 months for eligible insurance products.

Products and services

• Life Insurance Life cover paying a lump sum of $100,000 to $2 million to beneficiaries on death or terminal illness diagnosis (24 months or less), underwritten by Hannover Life Re of Australasia Ltd for Australian residents aged 18–74, applied for over the phone without medical examinations or blood tests; can be structured as term life or as Life Cover for SMSF, with optional add-ons for Total & Permanent Disability (TPD), Serious Illness and Children's cover.
• Income Protection Insurance Insurance that replaces a portion of the insured's income with regular benefit payments when they are unable to work due to illness or injury, underwritten by Hannover Life Re of Australasia Ltd and distributed by Real Insurance for working Australian adults who want to protect their income and lifestyle during a recovery period; recognised as "Best for Flexibility - Income Protection 2024" in an industry award.
• Funeral Insurance Cover that pays a benefit to the insured's loved ones to help cover funeral and related expenses on the policyholder's passing, underwritten by Hannover Life Re of Australasia Ltd and distributed by Real Insurance; recognised by a 2025 Quality Service Award Gold and a 2026 Product Review Award for Funeral Insurance, and made available with the Real Reward™ 10% first-year-premium-back loyalty mechanic and electronic DocuSign beneficiary nominations.
• Health Insurance Combined Hospital and Extras private health cover for Australian residents, issued by nib Health Funds Limited and distributed by Greenstone Financial Services as authorised agent; Hospital cover tiers include Basic Plus, Bronze Plus, Silver, Silver Plus and Gold, and Extras cover tiers include Starter, Lifestyle, Advanced and Top, with a promotional 4 weeks free and 2- and 6-month Extras wait waivers on new joiners.
• Pet Insurance Accident and illness cover for cats and dogs issued in three tiers — Premium Accident & Illness Cover, Standard Accident & Illness Cover and Classic Accident & Illness Cover — arranged and administered by PetSure (Australia) Pty Ltd and underwritten by The Hollard Insurance Company, with an optional Routine Care Benefit add-on.
• Home Insurance Building and contents cover for Australian homeowners, with combined Home and Contents cover or Contents-only cover available, optional extras (e.g. for portable contents, accidental damage), and a 10% combined-cover discount applied to the first 12 months and at each renewal; underwritten by The Hollard Insurance Company and distributed by Real Insurance.
• Landlords Insurance Insurance tailored for buy-to-let landlords renting out residential investment properties, covering landlord-related risks such as damage by tenants, loss of rental income and landlord liability; underwritten by The Hollard Insurance Company and distributed by Real Insurance.
• Car Insurance Motor vehicle cover in four variants — Comprehensive Insurance, Pay-As-You-Drive Insurance (kilometre-based pricing for drivers doing under 15,000 km annually, with savings up to $367 vs Comprehensive), Third Party Property Fire & Theft, and Third Party Property Damage — underwritten by The Hollard Insurance Company and distributed by Real Insurance; winner of the Canstar National Outstanding Value Car Insurance Award 2024 and the Mozo Expert Choice Award 2025 for Car Insurance.
• Travel Insurance Travel cover for Australian travellers for trip cancellations, medical emergencies, lost luggage and other travel-related risks, underwritten by Allianz Australia Insurance Limited, issued and managed by AWP Australia Pty Ltd (trading as Allianz Global Assistance), and distributed by Real Insurance via its dedicated travel-quote platform.

Quantifiable outcome

• Save up to $367 with Pay As You Drive Car Insurance
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Seven partnerships are on record, tiered core.

• Greenstone Financial Services Pty Ltd (GFS)coreOthersGFS is the parent company that operates under the trading name Real Insurance. GFS is an authorised Australian Financial Services Licence (AFSL 343079) holder that promotes and distributes all Real Insurance products.
• The Hollard Insurance Company Pty LtdcoreOthersHollard (ABN 78 090 584 473, AFSL 241436) is the insurer for general insurance products including car, home, contents, and landlords insurance under the Real Insurance brand.
• Hannover Life Re of Australasia LtdcoreOthersHannover Life Re (ABN 37 062 395 484, AFSL 530811) is the insurer for all life insurance products including term life, life cover for SMSF, income protection, and funeral insurance under the Real Insurance brand.
• nib Health Funds LimitedcoreOthersnib (ABN 83 000 124 381) is the registered private health insurer that issues Real Health Insurance products. GFS is an authorised agent of nib and receives commission from nib.
• PetSure (Australia) Pty LtdcoreOthersPetSure (ABN 95 075 949 923, AFSL 420183) arranges and administers Real Pet Insurance. Hollard is the insurer for pet insurance products.
• Allianz Australia Insurance LimitedcoreOthersAllianz (ABN 15 000 122 850, AFSL 234708) is the insurer for Real Travel Insurance products.
• AWP Australia Pty Ltd (Allianz Global Assistance)coreOthersAWP Australia (ABN 52 097 227 177, AFSL 245631), trading as Allianz Global Assistance, issues and manages Real Travel Insurance as agent for Allianz. GFS and AGA receive commission on travel insurance policies.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• iSelect: Australian insurance and utilities comparison platform distributing life, health, car and home products. Closely comparable as a DTC personal lines distributor/broker targeting Australian households with multiple product categories.
• Budget Direct: Direct-to-consumer insurance brand of Auto & General in Australia offering car, home, travel and pet insurance online. Comparable as a digital-first personal lines distributor emphasizing affordability and convenience in the same Australian market.
• Choosi: Australian online life and income protection insurance comparison and distribution service (now part of iSelect group). Direct comparable as a phone- and web-led distributor of life insurance and income protection to Australian consumers.
• 1Cover: Australian DTC travel and pet insurance specialist distributing through Allianz underwriter arrangements. Comparable overlap in travel and pet distribution with Real Insurance, also using partnered underwriting model.
• Compare Insurance: Australian insurance comparison and lead-generation site covering life, income protection, funeral and health lines. Comparable as a personal lines distribution intermediary targeting Australian consumers with multiple product categories.

Broad incumbents

• NRMA Insurance / IAG: Major Australian general insurance group (NRMA, CGU, SGIO brands) offering car, home and small commercial lines at scale. Broad incumbent covering several of Real Insurance's product categories, though vertically integrated and broader in scope.
• Medibank Private: Australia's largest private health insurer, including ahm budget brand. Comparable overlap in the health and hospital/extras cover category that Real Insurance distributes via nib.
• Bupa Australia: Major Australian private health insurer offering hospital and extras cover. Overlaps with Real Insurance's health product line distributed by nib; broader portfolio than Real Insurance's distribution model.
• AIA Australia: Large Australian life and health insurer (subsidiary of AIA Group). Overlaps with Real Insurance's life, income protection and funeral products distributed via Hannover Life Re; broader and vertically integrated.
• TAL (TAL Dai-ichi Life Australia): Top-tier Australian life insurer offering life, TPD, income protection and cover inside super. Comparable across life and income protection product categories that Real Insurance distributes through Hannover Life Re, but operating as a direct underwriter rather than a brand-led distributor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/RealInsurance
• Facebookfacebook.com/real.insurance
• Instagraminstagram.com/realinsurance
• TikToktiktok.com/@real_insurance
• Xx.com/realinsurance
• LinkedInlinkedin.com/company/real-insurance

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Real Insurance