New digital insurance provider set to cause a ‘blip’ in the UK market

Founded by Gary Ross, ‘blip’ is set to enter the UK market with its profit-sharing model returning as much as 10% of premiums to small business policyholders.

Related topics:  Digital Insurance,  SMEs
Tabitha Lambie | Editor, Protection Reporter
20th February 2024
digital insurance
"There is strong growth potential for blip, and I’m confident the talented team there will take the business from strength to strength with this customer-centric strategy."
- Danny Maleary, CEO of Pro MGA Solutions Limited

‘blip’ is a new digital insurance provider aiming to provide affordable and easy-to-understand small business insurance. So far, the insurtech startup has secured support from Wakam & Pro MGA Global Solutions as well as its first partner with McLarens acting as its claim services provider.

Founded by Gary Ross, blip offers a profit-sharing model which will return as much as 10% of premiums to policyholders. Ross explained, “we are using our digital-first platform to cut costs and pass on the savings to our policyholders through our profit-sharing model […] to empower our customers and build back trust between policyholder and provider through greater transparency and sharing in the profits.”

Gary described the newcomer’s agenda as “taking insurance back to first principles, where the loss of the few are paid by the premiums of many.” He believes small businesses are under immense pressure with rising inflation and interest rates during the Cost-of-Living Crisis, “so there’s a need to get more from your insurance.”

In hopes of growing a community, small business owners with a blip policy will be able to engage with each other via its online platform, allowing them to share opportunities.

Danny Maleary, CEO of Pro MGA Solutions Limited, said he’s excited to be supporting the launch of blip’s digital-first insurance platform in the UK. “Digital transformation is putting the need for the insurance industry to think more about its end users firmly under the spotlight […] that’s exactly what blip is looking to achieve for the small business market,” he concluded.

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