Insurtech startup Wrisk partners with BMW
UK insurtech startup Wrisk, which has now raised £1 million via crowdfunding website Seedrs, has secured a deal to become the sole BMW and MINI Car Insurance in the UK.
The insurance package will include seven days' free insurance with the purchase of any new or used BMW or MINI vehicle through the BMW and MINI UK network. Wrisk also offer fully comprehensive annual car insurance for customers who wish to continue their cover beyond the 7-day free cover.
The business described the deal as a “huge milestone” for the business and said it is “delighted and humbled by the trust BMW has put in us”.
In a blog on its website, it added: “But we’re also confident in what we can bring to the party too. We strongly believe that there's a mutual benefit to larger companies working with start-ups like ours.
“Fortunately for us, BMW are very much on the same page when it comes to the power of collaboration. That’s why they launched their "Innovation Lab" technology incubator, aimed specifically at companies with innovative business models or new technologies that could be used to benefit BMW customers.
“We took part in the very first BMW UK Innovation Lab in 2016, and we’ve just been selected from hundreds of startups to join nine other finalists in the BMW United States Collaboration Lab in Ohio, with the chance to make our partnership an international one.”
If you enjoyed this story and have an interest in Insurtech, join us at Intelligent InsurTECH Europe 2018, the only insurtech event with dedicated streams for CXOs, Data/Analytics, and Claims. Find out more here.
More of today's news
Re/insurers brace themselves for $20bn hit from Florence
Prudential reveals new CEO as Strangfeld steps down
Flooding from Florence could trigger NFIP’s protection – again
Florence weakens but could linger for longer
Carlyle Group buys majority stake in Sedgwick in $6.7bn deal
