Insurance startup, SO-SURE, has expanded its portfolio of “win-win” insurance products with the launch of contents insurance. The new service promises fast claims, money back for careful friends and families through their unique model and AI technology that allows a quick and easy inventory process.
SO-SURE is an insurtech on a mission to restore consumer trust in insurance, with an offering that is amazing if consumers need it and rewarding if they don’t. The team has provided mobile phone insurance since 2016, with a unique social insurance model that allows customers to connect their policies with family and friends and get up to 80% of their annual premium back every year if nobody claims. Those who do claim, benefit from transparent and simple policies, bolstered by proprietary technology that cuts overheads and provides a fast claims service – it’s a win-win.
Just like its mobile phone offering, SO-SURE contents insurance is fast, fair, and fuss-free. The app avoids lengthy forms in favour of image recognition and AI technology that enables users to build their inventory in just a few taps by scanning the items they’d like to add. This ensures what when you claim, you can expect to have it resolved within 72hrs. However, 95% of home contents customers don’t claim, and this is where SO-SURE’s unique model comes into its own. Not only do they not increase the price the following year, but they give up to 40% money back, every year. It’s simple.
Customers can connect to their friends and family through the app. When they do, £10 is added to each customer’s Reward Pot. Any customer can connect to as many people until their Reward Pot is worth 40% of their premium. At the end of the year, if the customer and their connections have not claimed, the Reward Pot money is paid out. Win-Win insurance!
With nearly 1/5 contents insurance holders reviewing their cover due to COVID-19 (rising to 38% of 18-34 year olds) and only 36% of private renters currently with cover in place, the contents insurance market represents a significant growth opportunity for SO-SURE.
Dylan Bourguignon, CEO, SO-SURE, says: “The pandemic has seen us spend far more time at home and many of us are tackling long delayed home improvement projects and buying lots of new things for work and play. We’ve never been more conscious of the “stuff” in our house that we would be totally lost without and it stands to reason to protect these things for a few extra pounds a month.
“SO-SURE is guided by very simple principles – insurance that is quick and easy if you need us and rewarding if you don’t. For contents insurance, this means protection from damage and theft both in and out of the home, low premiums and excess, as well as perks. We’re particularly proud of the SO-SURE app, which lets users simply scan the items they want covered and have claims approved in minutes. We are building the insurance experience around customers – not products – and we are proud to stand amongst the most forward-thinking companies in our sector.”
To date, SO-SURE has raised a total of £6.7m, with funding from investors including Breega, Gauss Ventures, 7% Ventures and 500 Startups.
For more information on SO-SURE contents insurance visit the landing page here.