blip, the insurtech newcomer in the UK, today unveils its unique offering: cost-effective business insurance tailored for small enterprises, complemented by a trailblazing profit-sharing framework. With blip, any adversity is merely a minor glitch, easily surmountable.
This entirely digital insurer is setting a new precedent by redistributing up to 10% of its total policy premiums back to its clientele via a profit-sharing model. This approach enables blip members to not only save money but also to share in the company’s successes and engage with a growth-oriented online business community.
Teaming up with ‘Wakam’, a noted European insurer, blip has merged a comprehensive tech solution with its bespoke distribution site, ensuring that small business insurance is both competitively priced and straightforward, with policy documentation significantly shorter than that of its rivals.
Supporting blip’s journey is Pro MGA Global Solution, an incubator for insurance entities, which assists blip in maintaining a compliant and regulated operational framework. Additionally, blip collaborates with McLarens, a global claim services firm that aligns with blip’s dedication to delivering superior outcomes for clients, offering extensive TPA and loss adjusting services.
Gary Ross, blip’s Founder & CEO, shared, “We are using our digital-first platform to cut costs and pass on the savings to our policy holders through our profit-sharing model. We want to empower our customers and build back trust between policyholder and provider through greater transparency and sharing in the profits. Exceptional service is a given. We are taking insurance back to first principles, where the losses of the few are paid by the premiums of the many.”
Ross added, “blip is a new way to think about insurance that does more than just protect your business. The UK is facing a cost-of-living crisis and small businesses are being pressured by rising inflation and interest rates so there is a need to get more from your insurance. Building a community of like-minded small business owners, blip provides tools to help you succeed and grow.”
Danny Maleary, CEO at Pro, commented with enthusiasm, “We are 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 and that’s exactly what blip is looking to achieve for the small business market. 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”.
Jason O’Sullivan, Head of Global TPA Development at McLarens, stated: “Claims are the shop window of insurance and it’s crucial they are handled in a way that mitigates risk, reduces costs, and meets customer needs. blip’s proprietary software supports this approach, driving high quality claims journeys, and allowing policy holders to contact an adjuster directly and have visibility throughout the claim journey. We’re delighted to be partnering with the blip team to support the SME market.”
Joining the blip community offers every policyholder a chance to be part of a regional, yet nationally accessible network where small business proprietors can collaborate, exchange expertise, and provide mutual support. This collaborative spirit fosters a conducive atmosphere for the collective growth and prosperity of businesses under blip.
Furthermore, blip’s array of practical and actionable business support toolkits are crafted to empower entrepreneurs and small enterprises with the necessary tools to navigate the complexities of business management. These toolkits include templates and guidelines for crafting strategic business plans, aiding blip members in clarifying their business vision, mission, and objectives, and providing a roadmap for success.
For a comprehensive overview of blip’s services and the protection it extends to business owners, please visit www.justablip.co.uk.
