This is the third new commercial product in just nine months to be launched under the Ripe brand, taking their total number of products to twelve.
Ripe Insurance for Photography distinguishes itself from the competition as it’s a build-your-own model where customers only pay for the cover they need, unlike most insurers in this sector who offer pre-bundled packages. Using the Ripe technology, customers can build their policy cover exactly as they need it including cover for equipment in the studio as well as out on a shoot. Professionals can also cover their work portfolios and even the cost of re-shooting in the event of negligence.
Having identified a gap in the market, the new product is also the only specialist photography insurer to offer stand-alone Public Liability cover, something Ripe is confident will appeal to amateur and semi-professional photographers. The cover can be selected online and emailed to the policyholder in a matter of minutes, ideal for last-minute shoots.
Ripe is offering a 10% discount for members of photography associations or trade bodies which is on top of a 10% introductory discount given to all new customers. Cover for theft or damage to equipment is up to a value of £60,000 in total and Ripe Insurance for Photography offers a lowest price guarantee.
John Woosey, Managing Director of Ripe Insurance, said: “Our products have always been about insuring people’s passions - cycling, golf, boats – and we already cover photographers through our specialist drone insurance, so cameras are a natural progression. Photography insurance is not a new proposition but how we do it is very different. We offer a slicker online experience, personalised pricing and award-winning customer service. We’ve seen the Ripe brand model disrupt other sectors and we know it can offer the 50,000 serious photographers in the UK a product that is tailored to their specific needs.”
The news comes shortly after Ripe announced its support from the Government’s innovation agency, Innovate UK, for a new knowledge sharing partnership with the University of Salford as part of its strategy of using data, Artificial Intelligence (AI) and machine learning to drive rapid growth.
Through the partnership, Ripe will work with researchers at the university’s School of Computing, Science and Engineering to investigate the use of AI and machine learning capabilities to improve customer experience. The funding will contribute to the recruitment of a data scientist who will work full-time at Ripe under the supervision of the university.