The insurtech describes the deal as a ‘prestigious partnership’, while esure believes the move is a ‘game-changer’ for the industry
Personal lines insurers esure and Sheilas’ Wheels have signed a new distribution deal with insurtech Pikl, to offer their customers access to a host insurance top-up product.
Sharing economy insurance specialist Pikl provides cover for individuals who want to rent out their assets, for example, a room in their home, a whole property, or a car parking space.
The majority of standard home insurance policies do not insure this type of activity, meaning that policyholders could experience financial losses arising from theft, fire, damage, or public liability if they do not obtain specialist cover.
The agreed distribution deal will see esure and Sheilas’ Wheels feature a link on each of their websites that will take customers to a dedicated page on Pikl’s website – this will then “provide [customers] with a straightforward quote journey for insurance to cover them for renting out a room or their whole property for short periods”, according to Pikl chief executive and founder Louise Birritteri.
Game changing partnership
Speaking further on the deal, Birritteri continued: “We’re delighted to be able to announce this prestigious partnership.
“It is a hugely exciting prospect to be working with such major players in the personal lines insurance market.
“For esure and Sheilas’ Wheels customers, it will offer extra security to people renting out rooms or properties, where standard home insurance policies do not cover this type of activity in the event of a claim and, in a worst case scenario, could invalidate their whole policy.”
David McMillan, chief executive of esure Group, added: “esure has always had a reputation for disrupting standard industry practice in the name of a better customer experience.
“We are very pleased to have teamed up with insurtech Pikl to rewrite the way the insurance industry treats people operating in the sharing economy.
“This collaboration means our customers will be able to get fair-priced, good quality cover, if they declare an intent to rent out a room in their home or their whole property.
“This is a real game-changer for the industry and a great result for our customers.”
Esure owns Sheilas’ Wheels - both brands offer car and home insurance.