One of the big problems for start-ups is affordable, and often quite specific, Business Insurance cover. Most catch-all business policies don’t really fit WFH, or hybrid office/home small biz owners. Plus features like IP protection are often lacking in standard policies which are more geared towards stock, physical assets, or third party lawsuits after someone has tripped on the carpet in Reception. But there is some innovation happening, here’s the word;
Microbusiness-focused insurtech Lukango has launched a range of insurance policies for the UK micro-SME market as part of a strategic partnership with Markel Direct, the specialist insurer of the self-employed and small businesses. The collaboration will see Lukango initially distributing the award-winning insurer’s extensive suite of products to microbusinesses and sole professionals.
The tailored products will be offered online via the Lukango website. Lukango is designed to support the underserved microbusiness community on their business journeys through its innovative, dynamic products and accessible, no-jargon language. The Lukango team will work closely with Markel Direct to ensure that the clear and accessible Lukango language and tone are applied throughout all customer interactions.
Joanne Safo, CEO of Lukango, said, “We are excited to be partnering with Markel Direct for our UK launch, there is huge synergy between our teams. Our innovations in the microbusiness sector dovetail perfectly with Markel Direct’s expertise in protecting small businesses.”
Rob Rees, Divisional Director at Markel Direct, said “We’re delighted to be partnering with Lukango. As an insurer, we are increasingly supporting insurtechs and distributors with our API solution, and the Lukango team’s background in launching innovative digital insurance products – combined with a razor-sharp focus on their target customer – made us natural partners.”
Joanne Safo added, “Lukango’s product innovation and customer focus coupled with Markel’s deep market and underwriting expertise will enable us to deliver a valuable, high-quality insurance experience for today’s entrepreneurs. As the partnership develops, we will collaborate on product development, enabling us to further address the huge potential market in micro-SME insurance while making insurance inclusive, clear and fair.”