ExtrasJar has set out with a mission to shake up the financial services industry and give control back to our customers. We established ourselves to address the frustrations of our fellow Aussies with regard to health and pet covers because it’s not just what they need, but it’s also what they deserve.
Meet the Founders
Reece Frazier and John Connor worked in large financial services companies previously.
Reece has 20 years of strategic and operational experience in technology, marketing, HR, and product functions whilst designing strategic solutions and delivering programs to bring new products and services to competitive markets. Reece has a diverse range of executive high-level projects for multiple industries and government agencies, including QSuper, Suncorp, Department of Finance, and Department of Defence and Articulate.
John, on the other hand, has worked in the financial services industry and held senior management and executive roles in multiple countries, from the UK to Australia, for almost 20 years. He is a qualified actuary (FIA, FIAA) and a chartered enterprise risk actuary (CERA) with extensive knowledge of financial services, investment, and risk management through working at companies such as PwC, Westpac, ANZ, and Genworth. He was also a Chief Actuary at an Insurtech business.
The ExtrasJar Story
John and Reece’s experiences allowed them to have an insider’s point of view on the problems that customers face with their plans, which then triggered them to establish ExtrasJar.
To name a few, Australians are paying so much for premiums and yet, they are getting a lot less back in benefits, waiting periods that defeat the purpose of having a policy, restrictive plans that make Aussies pay for treatments they don’t need, and more!
Additionally, they also have first-hand experiences with their extras cover failing them.
Putting it into context, John loves running. He ran a marathon and had an unfortunate knee injury where he needed to see a physiotherapist. At first, he was confident with the treatment procedure and costs because he has been responsibly paying his premiums for how many years, hardly claiming anything. However, he was extremely frustrated when he learned that his extras cover only covered two physiotherapy appointments. The benefit he received did not justify the premiums he paid over years and he realised his insurer made so much profit on him alone.
On the other hand, Reece’s wife was doing a CrossFit session at the gym, and while she was pushing for a few more reps of hanging knee raises, she fell hard from the rig which resulted in a wrist injury.
This led to a trip to the emergency room, a specialist, and a physiotherapist, causing the treatment costs to pile up. Same as with John, she was paying her premiums for years, so she thought that her health extras would suffice. Not until she found out that it only covered a tiny portion of the total cost.
These situations were John and Reece’s last straw that served as the turning point that it’s time to address these problems and create a solution.
They established ExtrasJar to be a platform that gives people what they are looking for – flexibility, security, and control, where Australians can spend their extras the way they want with the vision of achieving peace of mind that the entire family, including their furry friends, are protected.
ExtrasJar Core Values
At ExtrasJar, we believe that what we do is just as important as the way we do it. That is why our work is anchored to the following core values:
Fairness is where we are walking towards transparent, secure, and holistic cover for all Australians. We always give full transparency to our customers to ensure that they are fully informed about the whole processes and mechanisms of ExtrasJar.
Empowerment in the form of giving customers complete control over their own funds. We acknowledge that customers are motivated by flexibility and purpose and that is exactly what we want to give them because we believe these will make them empowered as they maximise their hard-earned savings.
And above all, security as we allow our customers to have a reliable and adaptable cover for moments they need it most. ExtrasJar’s covers shy away from covers they are accustomed to primarily because we provide a comprehensive one that grows with them and has their back for every chapter of life.
This is the ExtrasJar – where customers’ money remains theirs for their benefit around the clock. We are shaking up the industry to bring the health and pet care revolution. Join us at the forefront!