blip affordable and profit-sharing small business insurtech launches

Insurtech startup ‘blip’ launches today in the UK, offering affordable business insurance for small enterprises and a pioneering profit-sharing model. When something goes wrong, it’s just a blip with blip insurance.

A fully digital insurance provider, blip is returning up to 10% of its total policy premiums to its policy holders through a profit share model, allowing blip members to save money, share in profits and benefit from a growth focused online business community.

blip is partnering with European insurer ‘Wakam’, integrating a fully stacked technology solution to blip’s proprietary distribution website to provide competitively priced and easy to understand small business insurance, with policies less than half the written length of competitors.

Pro MGA Global Solution, a specialist incubator of insurance providers is working with blip, facilitating blip’s compliance and regulated environment. blip is also working with McLarens, a global claims services provider who shares blip’s focus on delivering quality outcomes for clients and will provide cross-class Third Party Administration (TPA) and loss adjusting services.

Gary Ross, Founder & CEO blip says; “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 continues; “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 “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 said: “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.”

Every policy holder joins the blip community which is divided regionally and can be accessed nationwide. The blip community provides a platform for small business owners to engage and support one another, facilitating the exchange of knowledge and expertise within a like-minded community. The sharing of information and opportunities allows blip-backed businesses to succeed and grow together.

blip’s useful and useable business support toolkits are designed to empower entrepreneurs and small businesses with the resources they need to navigate various aspects of their operations seamlessly. The different toolkits provide templates and guidance for creating strategic business plans, helping blip members articulate their vision, mission, and objectives while outlining actionable steps for success.