Broker digitalisation continues with latest insurtech partnership
Innovative home insurance start-up Homelyfe has entered into a partnership with Freedom Brokers as the broker channel continues to embrace innovation in 2019.
We previously discussed broker Kingsbridge’s acquisition of gig economy app Dinghy. This latest move is another step in the shift towards digitalisation in the broker channel. Digitalisation has generally focused on the direct channel, using online methods to simplify the connection between insurers and customers. However, in 2019 the early sings suggest insurtechs do value the broker channel.
Homelyfe focuses on millennials. Its main selling point is convenience, as it claims to offer quotes in under four minutes. Meanwhile Freedom Brokers is also a young company, having formed in 2017. The partnership will see the application process reduced to just two questions through a Homelyfe widget on Freedom Brokers’ website.