ASIC Accuses Choosi Pty Ltd of Misleading Insurance Comparison Practices

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The platform, which presented itself as an insurance comparison service, was purportedly a distribution outlet for policies underwritten by Hannover. This arrangement allegedly allowed Choosi to earn considerable commissions from these sales, facilitated by Greenstone Financial Services Pty Ltd, an entity linked with Choosi. Over the stated period, ASIC alleges Choosi sold 4,225 funeral insurance and 9,478 life insurance policies, netting $61 million in commissions.

This legal action underscores the critical need for transparency in financial services, especially those involving consumer comparisons. The case highlights the potential for misleading practices in the insurance industry, raising concerns about consumer trust and informed decision-making.

For consumers, this situation underscores the importance of verifying the authenticity of comparison platforms, ensuring they make informed choices based on reliable information. For the industry, it signals heightened regulatory scrutiny and the possibility of stricter oversight to prevent such misleading representations.

The proceedings against Choosi could lead to significant ramifications for how insurance comparison services are marketed in Australia. If ASIC's allegations are upheld, it may result in stricter regulations, emphasising transparency and accuracy in such services' advertising and operations.

Industry experts suggest that companies involved in financial services and comparisons may need to reassess their marketing practices to ensure adherence to legal standards. Meanwhile, consumers are encouraged to exercise due diligence and seek advice to better understand the nature and scope of comparison services.

Published:Tuesday, 10th Jun 2025
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Insurance News

Clear

Understanding the Rise in Strata Insurance Premiums Amid Climate Challenges

12 Apr 2026: Paige Estritori

In recent years, Australia's strata insurance market has experienced notable shifts, primarily driven by escalating climate risks and increasing claims costs. As we move through 2026, these factors continue to influence premium rates and underwriting practices, presenting challenges for owners corporations and strata managers. - read more

Deloitte's Vision: Navigating Australia's Insurance Landscape in 2026

12 Apr 2026: Paige Estritori

As the Australian insurance sector approaches 2026, Deloitte has released a comprehensive report detailing eight pivotal predictions that are set to reshape the industry. These insights provide a roadmap for insurers to adapt and thrive amidst evolving challenges and opportunities. - read more

APRA Highlights Increase in Intermediated General Insurance Premiums

12 Apr 2026: Paige Estritori

The Australian Prudential Regulation Authority (APRA) has released its latest statistics, indicating a notable increase in general insurance premiums placed through intermediaries. This trend reflects the dynamic nature of Australia's insurance landscape and offers insights into the sector's current trajectory. - read more

Deloitte's Forecast: Key Insurance Trends for Australia in 2026

12 Apr 2026: Paige Estritori

As the Australian insurance landscape continues to evolve, Deloitte has released its 2026 Insurance Predictions, highlighting pivotal trends that are set to reshape the industry. These insights are particularly relevant for self-employed professionals seeking to understand how these changes may impact their coverage options and risk management strategies. - read more

Strengthening Australia's Fuel Security: Government Empowers Export Finance Australia

12 Apr 2026: Paige Estritori

In a strategic move to bolster national fuel security, the Australian government has announced amendments to the Export Finance and Insurance Corporation Act. These changes grant Export Finance Australia (EFA) enhanced authority to underwrite additional cargoes of critical imports, including fuel and fertiliser, addressing challenges posed by escalating risk premiums that have been affecting independent importers. - read more

Click for more Insurance News