Durham-based InsurTech disrupter Honcho has partnered with SilverBullet, a provider of digital solutions for the automotive trade.
Since launching in summer 2019, Honcho’s unique way of helping car and van drivers to choose the insurance that matches their needs – through a reverse auction marketplace – has presented an alternative to the price-obsessed world of comparison sites.
SilverBullet creates and manages online storefronts and provides eCommerce support for many of the UK’s leading motor groups including Peter Vardy, Ancaster, Pulman, Budgen, Stoneacre, Richard Hardie, Stephen James and L&L Mercedes, with their digital car buying journey used by dozens of motor dealerships across the UK.
Its platform allows motor dealers to manage their stock and handle the full new and used car sales journey including the management of finance applications and the end-to-end sales, purchase and delivery processes.
Car buyers using the SilverBullet-powered platform are now able to sort out their car insurance needs using Honcho’s innovative motor insurance reverse auction marketplace.
Honcho co-founder and chief commercial officer Frank Speight said: “Honcho is very excited to be partnering with SilverBullet to launch this pioneering initiative to enhance the consumer experience by reducing friction and adding insurance ‘to their basket’.
“Connecting our respective platforms to provide car dealers with full insurance functionality, and the opportunity to broaden their proposition and earn incremental revenues, is a win-win for all parties.”
Cameron Wade, managing director of SilverBullet, added: “I am delighted to announce this exciting partnership with Honcho Markets.
“The businesses align incredibly well due to their forward-thinking perspective on technology and how it can enable the consumer journey.
“I look forward to developing this partnership with all the team at Honcho.”