UK-based insurtech Wrisk recently announced it has partnered with BMW Group Financial Services to offer MINI Flex Car Insurance. Wrisk reported that now all new MINIs will be sold with three months’ free insurance to eligible car buyers in the UK through the insurance product, which is powered by Wrisk’s new Pro Motion capabilities.
“MINI Flex Car Insurance has been designed to reflect the flexible way that today’s consumers are used to interacting with other kinds of services. The secure online policy allows the insured drivers to access their policy documents at any time, from any device, and make changes to them instantly – from adding a new driver to changing an address, without incurring any fees or spending time contacting a call centre. Premiums also update in real-time according to any changes they have made.”
While sharing more details about the insurance product, Philip Kerry, Sales & Marketing Director at BMW Group Financial Services, stated:
“As car ownership models shift and consumer purchasing behaviors continue to rapidly evolve, we understand that innovation is vital to deliver a delightful customer experience. Insurance should no longer be an afterthought, and by offering a simple, seamless and high-quality car insurance experience from the moment our customers purchase their MINI, we can continue to invest in long-lasting relationships with our customers.”
Nimeshh Patel, CEO of Wrisk, added:
“The launch of MINI Flex Car Insurance is an important step forward for the automotive industry, completely reimagining the customer’s car insurance experience through a fully online platform. By providing much-needed simplicity, transparency and flexibility, the Pro Motion capabilities that Wrisk has developed are completely centred around the customer, helping manufacturers like MINI to support their customers beyond the forecourt.”
Wrisk is aiming to shake up the antiquated insurance industry with its smartphone app that makes purchasing insurance and filing claims a breeze. Wrisk has already secured partnerships with global brands such as Munich RE, BMW, and Hiscox. Its early investors included Oxford Capital, QIC, Hiscox and multiple angel investors. In 2017, it was also selected to join the 2016 BMW Innovation Lab.
Wrisk secured £978,682 through its most recent equity crowdfunding campaign on Seedrs. Prior to that funding round, Wrisk raised £1 million through its second Seedrs initiative.