Starpeak, the specialist digital distributor of insurance to niche online markets, has partnered with commercial insurer Peach Pi, to co-create specialist insurance products designed specifically for the micro and SME market.
The new collaboration will see both firms commit to working with like-minded insurance professionals to provide flexible, agile cover based on an understanding of an individual SME customer’s risk profile and protection requirements.
According to Starpeak, a thorough understanding of the SME market, coupled with an agile and collaborative approach to co-creating products, is a critical consideration when selecting its insurer partners.
Starpeak’s Commercial Director Andy Brownsell said: “We have established a strong track record for using our data analytics and digital marketing capabilities to build products from the ground up and grow our customer base quickly.
"We need to work with insurer partners who can match our understanding of the SME market and ability to work quickly to co-create schemes that meet our customers’ individual requirements. Peach Pi has that agility and collaborative approach in spades. And thanks to their in-house capacity to underwrite and pay all claims on their policies, we don’t have to worry about cover being declined or removed. I am confident that partnering with Peach Pi will support Starpeak’s ongoing growth aspirations in this space.”
Peach Pi’s Head of Commercial Trading & Distribution, Ryan Bendelow, comments: “We are committed to working with intermediary partners with the relevant in-house capabilities and understanding of their customer’s needs, who want to work collaboratively and creatively to bring the right products to market in a timely manner. Like us, Starpeak’s heritage is in the health and wellbeing sector and the organisation is now building on that expertise to service the broader micro and SME market.
"At Peach Pi, we are not restrained by bureaucratic processes. Our agile and flexible approach to underwriting and risk management enables us to weigh up liability risk exposure and make quick and informed decisions on cover issues.
"We believe that our in-house capacity, collaborative approach and understanding of this market complements Starpeak’s technological expertise and speed to market. We are very excited about working with Andy and the team at Starpeak to co-create insurance solutions that empower small businesses to thrive.”
