InsurTech Honcho launches van insurance marketplace
Posted on September 23, 2020 by Jonathan Symcox
Durham-based FinTech disrupter Honcho has launched its van insurance reverse auction marketplace.
Having launched its car insurance marketplace at the end of August 2019, van insurance becomes the second motor insurance product to join Honcho, bringing the start–up’s unique reverse auction concept to millions of van drivers across the UK.
It is available on iPhone and Android apps, and via the Honcho website, gethoncho.com.
“The events of 2020 have brought an even greater focus onto how critical vans are to all of our lives and now, more than ever, van owners need a better deal,” said CEO Gavin Sewell.
“Whether they are delivering our shopping or transporting tradesmen and their tools to keep our homes and businesses moving, vans are critical to us all.
“Van drivers all have different needs when it comes to insurance – for example, some need cover for the tools in their van and for others, their business stops if they’re without their van and so they choose courtesy van cover.
“With Honcho, van owners can choose the insurance specifics that match their individual needs, then we broadcast that out to our marketplace of insurance providers.
“Our van insurers get to see what each other are offering the consumer and can sharpen their offer with ever-lower prices over 3 rounds of bidding in just 30 seconds to try to win the van owner’s business with the exact cover that they’ve asked for.
“And without the hefty commission that old-fashioned price comparison sites hide away, Honcho is better value for everyone.”
Honcho’s van insurance marketplace has launched with some of the sector’s leading van insurers and brokers on their platform, including:
- Freedom Brokers
- City Insurance
- Nova Direct
- Van Line Direct
- Principal Insurance
- Motor Vision
- Performance Direct
- Grove & Dean
Several more van insurance providers, including Vanarama, Van Quote Direct and Computer Quote, will also join Honcho in the following two weeks.
Honcho also now has 25 car insurance providers on its platform, offering products to cover all segments of the car driving population from brand new drivers to those with points on their licence, with options including pay-per-mile cover and black box devices.