Honcho partners with Admiral
Durham-based Honcho has partnered with Admiral Group , one of the UK’s largest motor insurance providers, to offer Admiral MultiCar insurance on its platform.
Founded in 2016, Honcho, now a team of ~15, has raised around $5.2 million in funding to develop its reverse auction concept where customers create an online profile via its website or mobile app to later obtain bids from insurance partners and be redirected to a bidder’s site to complete the transaction. Admiral joins over 40 insurance providers across Honcho’s car and van insurance marketplaces.
“For various reasons, historical and technical, a digital journey for a multicar insurance product is not currently possible within the context of an aggregator platform. It will take some time to develop a solution that is feasible for a broad selection of motor insurance providers across the UK. In the meantime, however, we are keen to ensure that the thousands of users of our platform who have more than one vehicle in the household have the choice of following this path if they wish. To this end we are delighted to be partnering with Admiral, an iconic brand in the insurance market and who were the original pioneer of this type of product and continue to be one of the top providers in the UK.” – Frank Speight, Chief Commercial Officer at Honcho.
“As the market leader in multi-car insurance, Admiral has always been known for innovation and for offering customers the cover that suits their needs. We’re excited to launch this partnership with Honcho and are sure that their customers with two or more cars will be delighted to see Admiral MultiCar is now available on Honcho.” – Alex Murphy, Head of Marketing at Admiral.