Gibraltar based MGA, Pukka Insure, launched its Private Car offering on 1st November 2018. Nearly two years in the making, the move signifies the next milestone in Pukka Insure’s strategic long term plans to diversify the business it underwrites and add to the existing Commercial Vehicle account.
Pukka Insure’s Private Car product, backed by QIC Europe Limited, will follow a similar profile to Commercial Vehicle initially specialising on customers paying a slightly higher than average premium. Fellow Freedom Services Group stablemate, Freedom Brokers will be the first broker offering Pukka Insure’s Private Car cover.
Commenting on the announcement, Pukka Insure Chairman and Founder, Sam White, said: “We’ve made absolutely no secret of our plans to move into Private Car, I’m delighted that we are now within a few days of going live. Since our launch in May 2016, we have invested a significant amount of resources into our Commercial Vehicle offering and we’ve learnt so much, we now feel that we’re in a very favourable starting position for Private Car. The plan is for Private Car to become the largest proportion of our GWP and in developing this line of business, we will be paving the way for future lines such as Home and SME in 2019.”
Under Sam White’s leadership, Pukka Insure has become synonymous within the Financial Services industry for fair play insurance, challenging the way in which traditional insurance has been processed. Sam added: “We are very conscious of growing the business without compromising on our ethos of transparent, non-discriminatory and equitable operations. We are known for being inclusive and we won’t be moving away from this. What we have learned in the past two years and the incredible team of talented individuals we have created will be central to ensuring the success of the additional lines of business.”
Leading the Private Car team at Pukka Insure is James Blake, Director of Private Car, and with over 15 years experience in the insurance industry in personal lines, he’s well prepared for the task ahead.
Commenting on the announcement, he said: “Our learnings from Commercial Vehicle make moving into Private Car the most logical natural step in the business’s progression. We have invested, and will continue to do so, in recruiting the best people and the latest software. As a business we have collectively embraced a wide range of the new technologies available allowing us to offer our customers the best possible insurance solution for their needs. We are strategically putting systems in place to ensure we can merge insurtech ingenuity with robust and secure methodology of a traditional and proven insurer, aiming to give both our customers and our partners the best of both worlds.”