Insurtech Marshmallow Drives Expansion With Launch of Marshmallow Van
Marshmallow, the digital insurance provider, has today announced the launch of a new product, Marshmallow Van. The first product expansion outside of Marshmallow’s core car insurance offering, the launch of Marshmallow Van signifies further growth for the unicorn off the back of its Series B round. The product covers van owners who use their vehicle for social purposes, domestic use and commuting
Since launching in 2017, Marshmallow’s award-winning car insurance cover has grown by 120% year on year, across the country. Marshmallow uses technology, big data and artificial intelligence to tackle outdated biases so commonly seen across the industry and instead, provides a more accurate and affordably priced policy.
Marshmallow Van will now provide private van owners with a tailored insurance policy at an attractive and accessible price that leverages Marshmallow’s advanced risk assessment technology. Van owners will also benefit from Marshmallow’s Uninsured Driver Promise, protecting drivers’ No Claim Discount and returning the excess to them if hit by an uninsured driver.
The announcement is the latest in Marshmallow’s ambitious plans for growth and comes after Marshmallow launched Marshmallow Breakdown Cover, powered by The AA, to provide award-winning roadside cover for its customers in January. Van owners will have the choice to add Marshmallow Breakdown Cover to their cover, as well as No Claims Discount Protection and Motor Legal Protection.
Martin Schwitzner, VP of Product, Marshmallow said, “Marshmallow’s mission is to create a more accessible and effective insurance experience at a great price for everyone. We are looking to price everyone as fairly as possible and then provide them with a best in-class customer experience thereafter.
“We are excited to extend our offering to Van owners across England, Scotland & Wales and provide our award-winning insurance plans to an even wider customer base.”
The policy will be available to purchase first through price comparison website Quotezone followed by Go Compare and Confused. With a direct purchase option available on Marshmallow.com coming soon.
As part of its next phase of growth, Marshmallow has also launched its first major integrated advertising campaign, launching over 200 billboards, digital video and social channels, culminating with its TV debut on 10th May. Combining bright, bold, tongue-in-cheek billboards with marshmallow-filled TV adverts, the campaign is another statement from the digital insurance provider on its intention to break category norms within the insurance industry.