InsurTech startup blip slashes small business insurance costs with guarantee.

July 11, 2024
1 min read




Summary of InsurTech Startup Blip Article

TLDR:

Key points:

  • Blip, an InsurTech startup, offers small business insurance policies that are on average 1/3 cheaper than lowest offers on price comparison websites.
  • Blip’s pricing strategy includes a best price match guarantee and annual profit-share model.

Blip, an innovative InsurTech startup, is making waves in the sector by providing small business insurance policies that are significantly cheaper than those found on price comparison websites. The UK-based firm promises a best price match guarantee and annual profit-share model, returning up to 10% of total policy premium to members if claims and expenses are lower. They also ensure to match any lower price found by small business owners, cutting out price-inflating middlemen to offer a more cost-effective solution.

Blip operates outside of traditional price comparison websites and engages directly with customers, offering prices that are up to a third cheaper on average. With a direct-to-customer model, they aim to make insurance more affordable and simple for small business owners, providing access to an online community and useful tools to streamline the insurance process.

Under the leadership of CEO Gary Ross, Blip’s mission is to prioritize affordability, simplicity, and community support for small businesses. Their customer-centric approach challenges traditional perceptions of insurance companies and aims to provide the most competitive rates in the market.


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