Challenger aims to shake up insurance broker market with FinTech partnership
UK-based challenger broker, hubb, has partnered with Yoello, an award-winning mobile order and pay solution, to become its recommended insurance broker of choice and to offer an exclusive, guaranteed discount for its members.
The partnership with the FinTech firm, which provides technology for the hospitality industry to simplify ordering food and drinks both in-situ and via takeaway, will give hubb the opportunity to shake up the insurance market by delivering a menu-like approach to insurance broking.
This will enable Yoello users to make considerable savings on the services and coverage that they may be overpaying their existing brokers for – a notion supported by a recent study conducted by hubb that revealed 76% of business owners were unaware of what commission they were paying to their broker.
To address the issue, hubb is guaranteeing all Yoello customers a saving of 10% or more on their renewal price.
John Costello, Chief Revenue Officer at hubb, said: “We are thrilled that Yoello have selected us as their recommended broker of choice, and are excited to be offering this exclusive discount to its members.
“Usage-based/service-based is becoming increasingly normalised across all areas of commerce, and we at hubb believe that business owners should pay only for the services that they consume and that those costs should be agreed and disclosed upfront.
“Therefore, we feel that now is the right time to present a new way to buy business insurance, and our partnership with Yoello will help enable us to achieve this.”
Anton Manley, Chief Commercial Officer at Yoello, said: “At Yoello we’ve been working hard to shake up the outdated systems surrounding payments and make transactions more transparent and cheaper for hospitality businesses.
hubb have a similar vision for usage-based, affordable insurance for businesses, so we’re excited to be entering a partnership which I believe can collectively alleviate some of the pain points for hospitality businesses and offer much-needed support to an industry that’s faced some of its toughest challenges in recent times.“
This was posted in Bdaily's Members' News section by Greg Wheatcroft .