Policy Powerhouse, a new digital broker, has launched the fastest quote platform in the UK for holiday let insurance. Designed and built for busy holiday let business owners, it offers them the ability to get a quote for, and purchase, holiday let buildings and contents insurance in under 5 minutes. The ability to insure one or many properties on a single policy with a single policy fee and discounts for multiple properties is also unique for a fully online service.
CEO of Policy Powerhouse, John Bibby says, “We’re really excited to launch what we consider to be the most intuitive insurance platform on the market, which will transform the frankly, rather tedious holiday let insurance buying process, making it much faster and easier to obtain competitive pricing and a choice of coverage level to suit holiday let owners”
He goes on to explain, “Having been in the insurance market for most of our lives, we saw a gap in 4 critical areas of insurance: cost, speed of purchase, the ability to insure multiple properties on a single policy and range of products, particularly where requirements don’t quite fit the typical mould. This is where Policy Powerhouse comes in.”
The UK based digital broker, founded in 2021, aspires to bring non-standard insurance products within easy, fast, and cost-effective reach of buyers to save them time and money. Taking the hassle out of the insurance-buying process and delivering straightforward claims processes, with enhanced underwriting data and performance is core to their business model.
Because holiday let properties can be left unoccupied for longer than 30 days and have multiple short-term tenancies, they are seen as a higher risk than standard home insurance. This means that standard home insurance policies typically do not provide adequate cover, which is where Policy Powerhouse’s ‘Holiday Lets’ insurance fits.
EASY STEPS
A simple 5 step process for obtaining a policy has been developed by Policy Powerhouse, minimising manual data input beyond any other platform to date through partnering with leading property data supplier WhenFresh.
The buyer only needs to enter the address and all necessary property and risk related questions are instantly “pre-answered” within the Policy Powerhouse platform, by pulling in data via the WhenFresh API. This removes the need for buyers to complete lengthy, complex forms, making the process of obtaining a quote much faster and simpler.
Policy Powerhouse is committed to making a difference to the insurance buying process, but they also want to make a difference to people’s lives. By giving £1 of every policy purchased or renewed to the Make-A-Wish charity, they’ve set an initial target of raising £100,000 to help provide children living with critical conditions with the opportunity to make a wish that’s unique to them.
Holiday Lets launches on the 16th of June 2022 and is the second product brought to market by Policy Powerhouse. T
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