Most customers do not read the Terms & Conditions when they buy a product. For non-financial services products they are often unimportant. So when it comes to financial services products, the customer wants to be able to make the same assumption: “the product is called Home Insurance, it will do what it says it does (after all I have provided lots of information), so reading the Terms & Conditions (AKA the Policy Document) is unnecessary”.

Home insurance customers want to have peace of mind that the “promise to pay” they have bought covers their individual requirements. So they don’t like information about assumptions, or exclusions, or limits, put in documents that they have to open separately and then read in detail. If it is important, then it should be made clear upfront, so customers can make an informed choice before they buy.

PolicyCastle’s primary objective is to help members buy the home insurance policy that covers their needs. To do that we use genetic algorithms to help members understand what their risks are, and identify the optimal cover for their circumstances.