Wrisk to offer new automotive coverage through deal with Allianz

July 1, 2019

Mobile-based insurance startup Wrisk to offer new automotive coverage through new deal with Allianz Partners.

The agreement is with Allianz Automotive and will enable Wrisk to offer automotive protection via car manufacturers at the point of sale. The partnership will focus on the UK market and positions the two companies to offer improved access to automotive insurance.

This partnership is part of Wrisk’s goal of working with B2B2C organisations looking for innovative, customer-first insurance solutions, it said.

London-based Wrisk is an insurance app which helps consumers better understand their risk scores and what is impacting their insurance premiums.

Additionally, users can buy insurance policies in the app, specifically selecting what they want to cover. The aim is to provide a single plan to consumers, letting them add or remove items whenever they need. Policies can cover, health, travel, vehicles, home and contents, among others.

Payments are automatically paid on a monthly basis in a subscription style, letting holders pay for what they need to protect.

Wrisk CEO and co-founder Niall Barton said, “We’re big believers in the insurance industry’s potential for innovation. Working with Allianz Automotive has been really rewarding thanks to their agility and commitment to deliver radically improved solutions for customers.

“This is a prime example of Wrisk’s strategy to develop collaborations with global insurers who have particular dominance in vertical sectors, where together we can unlock new opportunities for them and their B2B2C partners through a mobile-first, connected customer experience.”

Last month, Wrisk closed a crowdfunding a campaign via Seedrs on £978,682, surpassing its initial goal of $750,000. The InsurTech raised the capital at a £13m valuation and sold a total of 5.44 per cent of its equity through the round.

Proceeds from the round are earmarked for adding new car insurance services, building an omnichannel experience on its mobile app, and increasing its number of customers.