Broker says smartphone app will help customers find "better options" for cover using AI.

InsurTech start-up Brolly has launched gadget and motor insurance in its smartphone app.

In addition, the broker said its switching feature, which analyses what a customer is buying and searches for a better option based on information shared about their lifestyle, is live for gadget insurance.

CEO and co-founder Phoebe Hugh confirmed that this will be rolled out on other product lines, including motor, home and travel in the coming months.

The start-up broker claimed that Brolly’s is the first insurance app where it’s possible to switch and purchase insurance directly in-app.

Artificial intelligence
It detailed that the app, using artificial intelligence, will prompt customers when renewal is due, re-analyse their needs and check to see if there is a better policy for them.

Hugh commented: “Finding the right insurance is a long and complicated process. The result is that most of us give up and so end up paying too much for the wrong kind of cover.

“Insurance is important - it should not be this difficult. That’s why we’ve built Brolly to help people find the right insurance policy easily and save themselves time and money.”

In addition, Markerstudy has joined Brolly’s panel of insurers, which also includes Axa and Ageas.

Anthony Foster, head of broker management at Markerstudy, commented: “We’re always looking for exciting opportunities for business, especially in the InsurTech sphere.

“Distributing our products on apps with promising partners like Brolly is a strategic step that enables us to widen our scope and reach new customers.”

Brokers
Brolly launched in November 2017. In July last year it closed a £1m fundraising round led by Valar Ventures, Pi Labs and Entrepreneur First.

Hugh has previously warned brokers of being cut out of the market as technologies such as AI and data analytics continue to develop.

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