Sherpa Launches Biggest Change to Personal Insurance in 200 Years

Sherpa Launches Biggest Change to Personal Insurance in 200 Years

PR Newswire

LONDON, October 29, 2018

LONDON, October 29, 2018 /PRNewswire/ --

Commission-free, personalised service plans to disrupt insurance industry

Life insurance first product to market 

Sherpa, an insurance company, has launched with a personalised insurance service promising to overthrow the traditions of the 200-year old industry.

Sherpa launches its first consumer offering, a tailored one-stop solution to cover the risks of not being able to work, on 11th September. Sherpa's initial target market are the self-employed, freelancers and contractors.

Sherpa gives its members access to commission free cover at wholesale rates and a degree of flexibility that is designed specifically around the needs of the self-employed. This reduces the overall cost whilst removing the insurance industry's traditional reliance on upselling new products to drive profits.

Sherpa takes no commission but instead charges a simple monthly subscription for access to the 'wholesale' cover and regulated advice. Cover comes straight from the re-insurance market, cutting out fees and commissions and delivering competitive, flexible and accurate cover straight to the customer.

Alongside it's offering, Sherpa offers users simple and intuitive digital advice which is fully regulated, part of a commitment to put the power back into the hands of the consumer. You get personalised advice at your fingertips, when you want it. Without the cold calling or having to make an appointment.

Patrick Muir, CMO at Sherpa, said: 

"How we consume movies, shop and even hire taxis has all changed massively in the last 10 years. Insurance hasn't. That is what we are building at Sherpa: a better, more modern way of getting and staying protected. Our first product is just the first step so people can really see what Sherpa cover is going to be all about. Effortless, tailored and flexible."

Sherpa's artificial intelligence platform provides incredibly high levels of personalisation, offering potential savings of between 20% and 40% on similar insurance products.

Sherpa's initial marketing will be through sponsorship, including sponsoring The Association of Independent Professionals and the Self-Employed (IPSE)'s National Freelancers Day, and targeted online and social media advertising.

About Sherpa 

Sherpa is revolutionising the world of Insurance. It has built a proprietary platform which can assess your risk and build a dynamic personalised risk profile. Members will be provided simple, easy-to-understand advice, and the cost of covering the risks that matter the most to them.

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