Positioning itself as a fully digital insurance provider, blip distinguishes itself by returning up to 10% of total policy premiums to its policyholders through a profit-sharing mechanism. The approach enables blip members to save money and share in the company’s profits and engage with a growth-focused online business community.
In a strategic partnership with European insurer ‘Wakam,’ blip integrates cutting-edge technology solutions into its proprietary distribution website, offering competitively priced and easily understandable small business insurance policies. Remarkably, blip policies boast less than half the written length of those offered by competitors, simplifying the insurance process for entrepreneurs.
Facilitated by Pro MGA Global Solution, a leading incubator of insurance providers, blip ensures compliance within a regulated environment, enhancing customer trust and reliability. Additionally, blip collaborates with McLarens, a globally recognised claims services provider that shares blip’s commitment to delivering top-quality outcomes for clients. McLarens will offer cross-class Third Party Administration (TPA) and loss adjusting services, further bolstering blip’s comprehensive insurance solutions.
Speaking about the launch, Gary Ross, Founder & CEO blip says; “We are using our digital-first platform to cut costs and pass on the savings to our policy holders through our profit-sharing model. We want to empower our customers and build back trust between policyholder and provider through greater transparency and sharing in the profits. Exceptional service is a given. We are taking insurance back to first principles, where the losses of the few are paid by the premiums of the many.”
Ross continues; “blip is a new way to think about insurance that does more than just protect your business. The UK is facing a cost-of-living crisis and small businesses are being pressured by rising inflation and interest rates so there is a need to get more from your insurance. Building a community of like-minded small business owners, blip provides tools to help you succeed and grow.”
Danny Maleary, CEO at Pro also commented “We are excited to be supporting the launch of blip’s digital-first insurance platform in the UK. Digital transformation is putting the need for the insurance industry to think more about its end users firmly under the spotlight and that’s exactly what blip is looking to achieve for the small business market. There is strong growth potential for blip and I’m confident the talented team there will take the business from strength to strength with this customer centric strategy”.
Jason O’Sullivan, Head of Global TPA Development at McLarens added: “Claims are the shop window of insurance and it’s crucial they are handled in a way that mitigates risk, reduces costs, and meets customer needs. blip’s proprietary software supports this approach, driving high quality claims journeys, and allowing policy holders to contact an adjuster directly and have visibility throughout the claim journey. We’re delighted to be partnering with the blip team to support the SME market.”
