Durham-based InsurTech disrupter Honcho has launched a partnership with Admiral, one of the UK’s largest motor insurance providers, to bring its Admiral MultiCar insurance to Honcho.
With a large proportion of Honcho customers’ households already having more than one car, Honcho has been keen to bring multi-car cover to its apps for some time. Unlike with traditional single car products, however, the industry infrastructure required to support quoting for multiple vehicles does not yet exist in a way that would allow Honcho to create a multi-car reverse auction marketplace of multiple providers.
This partnership, therefore, opens the door for Honcho customers to insure two or more cars together within a multi-car policy as a complement to Honcho’s existing services.
Admiral joins over 40 insurance providers across Honcho’s car and van insurance marketplaces, plus a growing number of partners in their Vehicle Care Marketplace, all designed to help Honcho customers to quickly and easily find the motor products and services that are right for them.
Honcho was 6th on our 100 FinTech Disrupters ranking last year.
Frank Speight, Chief Commercial Officer at Honcho, said: “For various reasons, historical and technical, a digital journey for a multicar insurance product is not currently possible within the context of an aggregator platform. It will take some time to develop a solution that is feasible for a broad selection of motor insurance providers across the UK.
“In the meantime, however, we are keen to ensure that the thousands of users of our platform who have more than one vehicle in the household have the choice of following this path if they wish. To this end we are delighted to be partnering with Admiral, an iconic brand in the insurance market and who were the original pioneer of this type of product and continue to be one of the top providers in the UK.”
Alex Murphy, Head of Marketing at Admiral said: “As the market leader in multi-car insurance, Admiral has always been known for innovation and for offering customers the cover that suits their needs. We’re excited to launch this partnership with Honcho and are sure that their customers with two or more cars will be delighted to see Admiral MultiCar is now available on Honcho.
Admiral MultiCar is available now within the Honcho apps for iOS and Android, plus via gethoncho.com.