More than 475,000 workers across the UK can now access the new insurance service from honcho after the reverse auction marketplace partnered with employee benefits provider Personal Group.
Personal Group’s Hapi app, used by more than 600 organisations, including DHL and Stagecoach, aggregates employee benefits from multiple third parties and makes them easy to find and access in a single place.
Users of the Hapi app now have seamless, direct entry to honcho’s car insurance platform, giving them access to policies from more than 19 insurers, including Aviva, Axa, Ageas and Zurich.
Commenting on the partnership, Frank Speight, commercial director at honcho, said: “We are delighted to launch our partnership with Personal Group. Through their Hapi app, hundreds of thousands of employees across the UK are already accessing great deals from all manner of providers, and we think it’s just right that they are now able to directly access the refreshing new world of honesty, transparency and fairness that honcho is bringing to car insurance.”
Ashley Doody, chief product officer of Personal Group, added: “As a technologist I love disruptive and innovative products. So, I am delighted to welcome honcho onto our Hapi platform. We are always searching for new providers to widen our offering to clients. Financial wellbeing is key to overall wellbeing and, let’s face it, everyone likes to get a great deal!”
Durham-based honcho surpassed the £700,000 target for its second equity crowdfunding campaign in January. Its reverse auction mobile app on Android and iOS invites a panel of car insurers to compete and submit prices to users, which have reached more than 10,000 since August 2019.
The insurtech previously raised £830,000 via Crowdcube in early 2018, beating its target by almost 30%.
Since then, honcho has gone on to raise a further £970,000 from Edinburgh-headquartered venture capital firm Maven Capital Partners and a number of private investors.
Article published in Claims Media on 30th July 2020.