Insurtech Brolly has launched an app-based contents insurance policy.
Dubbed “Brolly Contents” and built in partnership with insurer Hiscox, it is a monthly subscription that reduces in price with loyalty. In addition, it has an AI-enabled photo tool to identify contents.
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The policy is for people who want to insure £40,000 ($48,590) worth of belongings in a flexible, modern way.
Insurtech Brolly has no fees or phone calls for essential changes. Furthermore, eligible customers receive a quote in under 60 seconds after registration. Customers can also take photos of their possessions and the app’s AI-powered “computer vision” will identify the items.
Users select the value they want to protect within the home, the amount they want to protect when outside the home, and the excess they want to pay. They are then covered worldwide and can update the cover at any time. In addition, customers can choose to only insure they things they want to, such as higher value items.
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By GlobalDataBrolly Contents also provides loyalty discounts and lowers premiums for every claim-free month.
Phoebe Hugh, Brolly CEO and founder, said: “Brolly Contents is the most exciting insurance product launched for a long time. We’ve listened to what people actually want and packed it into one product. No more loyalty tax, no more hidden fees, and no insurance dictionary needed to work out what you’re buying. This is just the beginning from Brolly – we’re harnessing technology to build the simplest insurance experience in the world.”
Hiscox’s Matt Churchill, head of Hiscox Futures, said: “Consumer expectations of insurance are changing. We identified early on that Brolly were leading the charge in exploring new ways of engaging customers. Together, we’ve designed a simple insurance product and brought it to life on Brolly’s proven technology driven platform. We hope it brings positive benefits to consumers looking for simplicity and flexibility from a home contents policy.”
