Using its bespoke technology stack, Ripe can deliver quotes to prospective policyholders in less than 2 minutes.
Manchester, UK, 05 December: UK fintech and insurer, Ripe, has expanded its product portfolio with the launch of motorhomes and campervans insurance. Ripe, is using its proprietary technology and ‘build your own policy’ model to deliver quotes in less than 120 seconds, faster than the time it takes to go from 0-60 mph in your typical motorhome.
With this new area of cover, Ripe is building on its success insuring static and touring caravans and the business now has over 350,000 policyholders.
Ripe specialises in leisure, lifestyle and small business insurance, covering assets from boats and golf equipment, to bicycles, musical instruments and photography equipment, as well as insuring personal trainers, fitness instructors, sports coaches and hair and beauty businesses.
The new motorhomes product is the first foray into the competitive market of motorised wheels. When building this product, Ripe conducted in-depth market research to ensure that the product provided the right cover options and pricing for policyholders. To achieve the smoothest customer experience, Ripe used biometric testing to develop its online journey and ensure the quote process is as slick as possible.
This product launch comes a month after the Manchester-based insurer made its first major acquisition of specialist boat insurer Craftinsure and announced its 15th straight year of growth.
Ripe CEO, Paul Williams, commented: “It is estimated that there are over 225,000 campervans and motorhomes on Britain’s roads. With motorhomes rising in popularity as more and more people choose to holiday in the UK instead of going abroad, we saw a gap in the market for a product that’s competitively priced, customer-driven and digitally led. We have a tremendous track record in entering specialist markets such as this, with our unique agile model, and we’re delighted to bring our fresh, multi-award winning approach to motorhome and campervan insurance.”
Ripe’s motorhome and campervan product is underwritten by specialist motor insurer, ERS. The fintech’s growing product portfolio now has 19 specialist insurance products targeting leisure, lifestyle and SME markets. Ripe was recently named the Best Big Insurance Company at the 2023 Insurance Choice Awards.