InsurTech startup Brolly launches new product Brolly Contents to plug big market gap

UK insurance app company Brolly has unveiled Brolly Contents, a home contents insurance service.

The new service offers a monthly cover for belongings worth up to £40,000. The startup, launched in 2016, has stated this makes it ideal for both renters or property owners, according to a story in TechCrunch.

Moreover, the InsurTech startup has pledged a loyalty discount of up to 25 per cent that could increase every month the user has not made a claim. Brolly founder and CEO Phoebe Hugh told TechCrunch this was the antithesis to insurers offering discounts for new clients but then raise the costs in the following period.

It also aims to introduce more flexibility into a sector that usually offers contents insurance as a blanket cover. Instead of doing that, Hugh told TechCrunch Brolly Contents enables customers to choose what they want to cover instead of doing everything at once. “You can get insured from as little as £4.50 a month, if you only want to protect a few things,” she added. “There are no add-ons, and you can add valuables for no additional cost.

“Many businesses in this space, particularly some of the newer ones, are offering a branded product to customers which, in the background, consists of multiple underwriters with policies stitched together. As soon as you add some valuables and accidental damage, the price skyrockets. It’s pretty tricky to keep pricing competitive if this is how you operate”.

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