Overview

• ASIC claims Choosi’s website, ads and commercials misrepresented that it compared a range of funeral and life insurers when it primarily offered Hannover policies from July 2019 to November 2024.
• The regulator alleges Choosi included only Hannover Life Re of Australasia policies except for a single non-Hannover inclusion before July 2023.
• Choosi is said to have earned about $61 million in commissions from Hannover for exclusively promoting its products on the comparison platform.
• Between mid-2019 and late 2024, customers purchased 4,225 funeral insurance and 9,478 life insurance policies through Choosi’s service.
• ASIC deputy chair Sarah Court warns the case will test transparency rules for online insurance comparison sites and could lead to significant penalties.