Honcho launches ‘reverse auction’ app
InsurTech Futures: The car insurance app aims to reduce costs for young drivers.
Honcho has launched its ‘reverse auction’ app after more than three years in development.
The app allows insurers and brokers to bid to provide consumers with car insurance, encouraging them to offer the most competitive premium in order to win business.
Providers whose products are covered by Honcho at launch include Axa, Ageas, Aviva, ERS, LV, Covéa, Markerstudy and Sabre.
In addition, Honcho counts Marmalade, Flux Direct, and Brightside as some of its participating brokers and MGAs.
Tom
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