Why we are looking at Camplify?
A new insurance led approach improving profitability has been overshadowed by the US Iran war effects on bookings. The marketplace for everything Caravans has a great deal of potential if sales can grow.
Camplify (ASX:CHL): Is insurance the growth driver?
At a Glance
| Sector | Information Technology |
|---|---|
| Industry | Technology hardware & wquipmemnt |
| Activity | Caravan Marketplace |
| ASX Code | CHL |
| Share Price | $0.255 (at 24 Aug 2026) |
| Market Cap | $18M |
What gives Camplify an edge?
The big factor in the company’s favour is its proprietary RV insurance product, MyWay, which is funded via a mutual or membership program. Previously, Camplify bought an insurance product from a broker, then onsold to the customer for a 5% margin. The group has set up MyWay as its own insurance product with re-insurance in place and obtains a 28% profit margin. More to the point, the product is available to all RV owners, not just those in the Camplify marketplace.
There are now over 900,000 RV owners in Australia & NZ and the total gross written premium is $1bn. Camplify sits at $10m or 1% of the market, while Suncorp & NRMA have 70% between them. Camplify’s MyWay has only just been rolled out and is due to be launched in Germany.
Insurance is a big hurdle to RV owners listing on peer-to-peer sites like Camplify, because it often conflicts with their existing insurance. This set up puts insurance first and then Camplify provides a great opportunity to make money. Effectively, RV owners buy insurance protection, then get asked, by the way, would you like to put your camper van on the marketplace in one click.
Bull Points
Winning contracts
Technology for the times
Bear Points
Limited transparency
Subscale for the opportunity
This is an opportunity but one that sits at the high-risk end, being loss-making, a small float and the ever-present danger of business interruption, through bush fires, floods, most typically. The marketplace is a dominant one but it’s niche and the group has made acquisitions that it has struggled to integrate. The insurance business represents a very real opportunity.
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Richard Hemming
Founder, BA (Econ, maths statistics), FSIA
Richard is an experienced equities analyst, stockbroker, and financial editor, having worked for over 30 years in finance.
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