The latest collab between Starpeak and Peach insurance;
Specialist digital distributor Starpeak is collaborating with its niche commercial insurer partner Peach, to extend its Hairdressing Insurance offering to include property cover. The existing scheme, launched in 2019 under Starpeak’s Protectivity brand, offers specialist cover for freelance and mobile hairdressers and barbers. Peach was appointed to underwrite the product in 2022 and has been working closely with the team at Starpeak to look at ways to enhance and grow the scheme.
According to the National Hair & Beauty Federation, there are currently over 61,000 hair and beauty businesses in the UK and this resilient sector is growing by around 2%. Andy Brownsell, Commercial Director at Starpeak, explains the rationale behind the new scheme enhancements:
“We have been offering specialist insurance cover to freelance and mobile hairdressers and barbers for six years and it has proved to be a popular product. Extending this existing cover to include salon premises is a natural progression to offer our customers more choice and open up a new revenue stream for our Protectivity business. Under the new Salon Insurance scheme, our policyholders will be covered for the occupation and provision of a premises used for hairdressing services, as well as other additional specified beauty treatments carried out by a qualified hairdresser.”
Starpeak appointed Peach as an insurance partner three years ago to support its ongoing growth aspirations in the micro and SME space. It was attracted by the insurer’s understanding of the market and ability to work quickly to co-create schemes that meet its customers’ individual requirements. Brownsell comments:
“We needed an insurer with the right level of property exposure and range of coverage required to expand our Hairdresser scheme. My team and I have built up a close and trusting relationship with Ryan (Bendelow) and his team at Peach and we have been able to have flexible conversations about our products and their potential. Peach understands what will be good for our business and there has been a good deal of collaboration involved in identifying what new products we can develop and launch into the micro and SME market.”
Peach is delighted to be collaborating on the new Salon Insurance scheme with Starpeak. Director of Commercial, Ryan Bendelow, explains:
“We have forged a close relationship with the team at Starpeak, helping to create specialist insurance products specifically for the micro and SME market. It’s exciting to work alongside a partner which can leverage its technology expertise to deliver superior customer experiences. We’ve loved being able to help identify opportunities to enhance existing schemes as well as launch new ones. Extending the existing Hairdressing Insurance to include salon premises is a great example of the way Starpeak and Peach have worked collaboratively to react to customers’ evolving protection needs. Starpeak has the expertise and track record to drive the right levels of customers to their website and Peach has the appetite and experience regarding rating and property exposure. It’s a genuine partnership at work and we have a good pipeline of new products that we are collaborating on.”
This latest collaboration with Peach is an example of Starpeak’s growth strategy to diversify and expand by leveraging the two businesses’ combined expertise and resources within the micro and SME space. Brownsell concludes:
“At Starpeak we are all about developing and launching niche schemes which can provide consistent and profitable income streams – both to us and to our insurer partners. In time, with a partner like Peach, these small schemes can grow into sizeable product lines. Our relationship with Peach is proving this strategy to be one to follow.”
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