The static or Park home is one option when it comes to downsizing later in life. It offers site security, relatively little space to heat and often a rural lifestyle on your doorstep. Here’s the word from Ripe Thinking;
UK insurtech, Ripe Insurance, has launched a new specialist park home product.
Ripe Park Homes will bring digital insurance to this growing market and transform how park home owners purchase insurance.
Powered by Ripe’s own innovative cloud-based underwriting and insurance distribution platform – known as Juice – the park home offering will create dynamic and truly personalised digital journeys for customers. Tailored to individual customer needs – so they only pay for the cover they want – customers can purchase a bespoke package with just a few clicks online. Ripe’s customised, digitally-enabled approach uniquely gives customers more flexibility and choice than other insurers in the park home market who offer pre-bundled packages or don’t offer online sales and support.
The new product covers fixtures and fittings cover up to the value of £500,000 and contents up to the value of £75,000. Customers can also flex their policy to add harder to cover items like hot tubs, mobility scooters and home emergencies.
Ripe Park Homes follows the launch of Ripe Caravans, which has been Ripe’s most successful new product in the market. Since launching on the technologically advanced Juice platform in 2020, Ripe Caravans has attracted more than 26,000 policyholders, significantly disrupting the marketplace. Both Ripe Caravans and Ripe Park Homes are underwritten by Aviva.
Paul Williams ACII, CEO of Ripe, said: “We have the technology in place to deploy new products reliably and at real pace when we see a gap in the market, and that’s exactly what we’ve done with park homes. On establishing ourselves in the caravan sector, we saw that there was an opportunity for innovation in park homes insurance – for a product that’s more competitively priced, customer-driven and digitally led. We have a tremendous track record in entering niche markets with our agile model, so we’re confident that Ripe Park Homes will make a real impact.”
Ripe’s growing product portfolio now has over 15 specialist insurance products targeting leisure, lifestyle and SME markets.
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