Sherpa Launches Commission Free Insurance

Sherpa Launches Commission Free Insurance

PR Newswire

LONDON, October 30, 2018

LONDON, October 30, 2018 /PRNewswire/ --

Plans to disrupt insurance industry and offer savings of up to 20% and free advice. 

Life insurance and critical illness first products to market 

Sherpa, a new insuretech business, 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 offer 3 different Life Insurance and Critical Illness products in a single account on 31st October. Sherpa's initial target market are the self-employed, freelancers and contractors.

Sherpa gives its members access to commission free cover 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.

Instead of commission Sherpa charges a simple monthly subscription fee for access to insurance cover and regulated advice. Sherpa cover cuts out many of the fees and charges no commissions and therefore delivers highly competitive, flexible and accurate cover straight to the target customer.

Alongside its 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 up to 20% on 'best buys' of similar insurance products available in the market.

About Sherpa 

Sherpa aims to remove the threat and worry of risk, that so many fear when going freelance or becoming self-employed. Sherpa has been designed by its makers to empower and encourage consumers to dream big and create the life they truly want.

Sherpa was founded in 2016 and successfully secured $2.3 million in seed funding from InsurTech.VC and a number of angels in August 2017.

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