From launch in December 2018, buzzvault, the first hyper tailored home insurance policy based on a digital inventory of a policyholder’s home, will promise rapid claims settlement and the reassurance of complete transparency for more complicated losses. Davies Group has been appointed to support the revolutionary new claims process which will be managed by the customer via their buzzvault app.
The strategic partnership will see Davies Group manage household claims via a dedicated buzzvault branded solution operating from Davies’ claims centre in Stoke, and providing customer settlement services including inspection, adjusting, restoration and repair/replacement.
Becky Downing, CEO of buzzvault said: “The claims process is the critical component of our proposition – everything hinges on getting this part of the customer journey perfect and Davies Group has exactly the right credentials to entrust with the role of claims administration and support.
“From day one, we have focused on taking the pain from the claim. Therefore we agree with the customer upfront exactly what they want to insure and at what value. Uniquely, this is based on a secure digital inventory of their home, so there is complete transparency over what is and isn’t covered and easy evidence of cover in their buzzvault – a highly secure digital asset vault where the data on their possessions is stored. They can then view, amend, update their buzzvault and notify us of a claim very easily using the buzzvault app.
“Our business model not only vastly reduces the risk of underinsurance, it puts us in the envied position of being able to promise with certainty a smooth and swift claims experience. Unlike any other home insurance providers, we will know exactly what we are insuring.”
Darren Coombes, Executive Chairman of Davies Group said: “This is another great win for us at a time when we continue to invest in service, technology and new capabilities to help our clients grow their businesses. We are proud to be working with buzzvault who are an exciting and innovative business, harnessing the use of technology to provide coverage to a more digitally aware customer base. This latest win fits with our strategy of supporting tech enabled firms seeking to disrupt the market.”