There is so much that can be done with technology to improve the way we all buy insurance. Since we started PolicyCastle we have made very exciting progress, and we have been delighted by the support we have received from so many different stakeholders in the insurance universe.
We have had hundreds of positive conversations about what we are doing at PolicyCastle, with customers, insurance and non-insurance partners and investors. A lot of people have had similar questions, so we thought we would start a Frequently Asked Question section of the website to cover some of them.
Question 1: What is PolicyCastle?
Answer 1: PolicyCastle is a digital insurance broker, dedicated to providing the right insurance policies for our members, and explaining how members can reduce their risks. We are particularly focused on household insurance – and providing excellent service for our members.
Question 2: What do you mean by the “right” insurance policies?
Answer 2: The price of an insurance policy is important, but so is whether the policy provides the cover you need. Cheap may not be best if you are not fully covered. PolicyCastle helps its members find the optimal policy for their circumstances.
Question 3: How will PolicyCastle find the “right” insurance policies?
Answer 3: PolicyCastle uses sophisticated workflow technology and genetic algorithms to help its members make an informed choice.
Question 4: What else is different?
Answer 4: A lot. But we are not going to announce it all just yet. To give some information, as part of the PolicyCastle service we will communicate regularly with members, to understand if their insurance requirements change, and to give them individually relevant information so they can reduce their risks.
Question 5: Who will use PolicyCastle’s service?
Answer 5: From the many conversations we have had with insurance customers, we expect the majority of our members will be those who want to be certain their insurance policies cover their needs, and are looking for excellent service, which they can access at any time – during their commute, at home – when it suits them.
Question 6: Will you have a new version of your website soon?
Answer 6: We have a new, improved, version of our website coming soon. Watch this space…
Question 7: Where is PolicyCastle based?
Answer 7: We are based at The Dock, Tobacco Dock, Wapping Lane, E1W 2SF. Fortunately for the team, despite the name smoking is not allowed in the building.