Youi to increase focus on Australian growth opportunities
Published on 24 September 2019
Youi NZ Pty Limited confirmed today that it had entered into an agreement to transfer its New Zealand insurance portfolio to Tower Insurance Limited (Tower) so it could focus on growth opportunities in Australia.
CEO Hugo Schreuder said the Australian insurance market offered more opportunities to Youi.
“After nearly five years operating in New Zealand, we have decided to step back from this market. While we’re very proud of what we’ve achieved in New Zealand over the last five years, there will be more growth opportunities for the portfolio under Tower’s ownership,” Mr Schreuder said.
“This decision now allows us to put all our focus and energy on our Australian business as the scale and diversity of the market offers more growth opportunities for a challenger brand like Youi.
“We are excited to be moving to a new chapter which enables us to invest more in Australia and diversifying our product portfolio – offering more choice, and more value, for our customers.”
The portfolio transfer, which is still subject to a number of conditions, is expected to complete in the fourth quarter of the 2019 calendar year.
Youi corrects previous statement on CTP offering
Published on 14 June 2019
Youi would like to apologise for, and withdraw previously misleading statements in respect of Youi’s role in the NSW CTP scheme. A statement was displayed on Youi’s website from 26 April to 7 June 2019, for which we note the following correction.
Youi is not licensed to offer CTP insurance in NSW and cannot and does not offer a NSW CTP insurance product. Youi previously offered CTP insurance as an agent for QBE Insurance (Australia) Ltd only, and on 29 April ceased to be an agent for QBE.
Existing CTP customers can contact QBE on 133 723 with any enquiries.
Information about recruitment portal, PageUp
Published on 7 June 2018
Youi is among a number of organisations which may have been affected by unauthorised activity discovered on the recruitment technology provider - PageUp – which Youi uses for recruitment services.
In a notification on their website, PageUp has advised it is currently investigating unauthorised activity with its IT systems.
At Youi, protecting your privacy is extremely important to us and we have taken the precaution of suspending our use of the PageUp system while the incident is being investigated.
We will provide an update on the issue following investigations.
Fire and Emergency Services Levy reforms delayed
Published on 5 June 2017
The NSW Government had previously introduced reforms to the way the Emergency Services Levy (ESL) would be collected. The reform meant that the ESL which had been collected via insurance premiums would be replaced with a Fire and Emergency Services Levy (FESL) which would be collected with council rates.
This would result in premium savings for insurance consumers and is considered more equitable and fair as the cost of emergency services would be funded more broadly by all property owners, rather than only consumers who elected to be insured.
On 30 May 2017 the NSW Government announced that the reform would be deferred until further notice.
How does this impact you?
We have been working towards the removal of ESL from insurance policies by 1 July 2017 and have already reduced the collection of NSW ESL accordingly.
We will continue to work with the NSW Government, the Insurance Council of Australia and all relevant stakeholders through the implications of the Government’s recent announcement and will keep you updated on how this will affect you.
Further updates will be provided as more information becomes available.
**** UPDATE ****
Since the previous Customer Alert, the NSW Government has passed legislation requiring insurers to collect emergency services funding on property insurance and not with council rates.
Please check your Policy Schedule for the showing the Emergency Service Levy that is collected with your premium. Please contact us on 13 9684 (YOUI) for any queries.
Cyclone Debbie Victims Warned of Scammers Posing as Insurers
Published on 4 April 2017
In the aftermath of Tropical Cyclone Debbie, cyclone and flood victims are being warned to watch out for scammers posing as builders or insurance companies. An official media release by the Insurance Council of Australia (ICA) says the scam is "generally carried out by traveling con-men and women who typically target elderly or vulnerable households, though business owners are also being approached."
The ICA recommends asking any contractor or assessor to see credentials and not to hand over any form of payment, or sign any contract without verifying the person's identity.
If you suspect a scammer, report them to the National Traveling Conman Hotline on 1300 133 408 or call the police.
For more information on how to avoid falling victim to this scam, see the ICA Media Release here.
Reports about people receiving unsolicited phone calls relating to injury compensation claims following motor vehicle accidents.
Published on 17 March 2017
Youi has recently become aware of customers and other motorists who have received unsolicited phone calls from businesses and individuals promoting injury compensation services and/or seeking personal information after motor vehicle accidents. In some cases, the business or individual making the telephone call purports to be a Youi representative.
We encourage anyone who receives an unsolicited phone call regarding injury compensation to protect their personal information and to contact us.
If you do receive an unsolicited telephone call in the future, we encourage you to: