‘Four-minute quote’ insurtech Homelyfe has a new partner to bolster its buildings and contents offering.
Tapped to provide home emergency and legal expenses insurance, ARAG now has another channel through which to make cover available. Via the Homelyfe app and within the quotation process, consumers will be afforded the option to purchase add-ons for their home policy.
“Our business is about shaping the insurance buying experience around the customer,” commented Homelyfe founder and chief executive Peter Goodman. “ARAG understands that and has worked with us to help deliver it.”
The start-up, which promises users of its app home insurance in less than four minutes, described ARAG as having been very accommodating.
“We’ve worked hard with Homelyfe to deliver something that really suits them and will work for their clients,” said ARAG account manager Colin Fennelly. “ARAG is known for being really flexible in our product design, but the way the product is delivered is often just as important.”
Fennelly stressed: “The industry is changing rapidly and the latest generation of insurance start-ups can’t work with off-the-shelf, one-size-fits-all solutions.”
For ARAG sales head Andy Talbot, Goodman’s digital insurance service is “a great example of insurtech at its best.” An appointed representative of Lloyd’s managing agent Vibe MGA Management Limited, Homelyfe was launched in the UK just last year and is slated to roll out more policy types.
“It’s not technology for its own sake, but something that really offers a tangible benefit to the insurance customer and we’re really pleased to be a part of it,” said Talbot.