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Policy Expert: Enhanced, Comprehensive Digital Experience

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Adam Powell, Co-Founder & COO , Policy ExpertAdam Powell, Co-Founder & COO
Policy Expert, incepted in 2010, is one of the few insurers in the UK that employs a digital-first strategy, in stark contrast to the legacy insurers in the domain. “We take ownership of the entire customer journey ranging from acquisition, quoting, delivery, documentation, through reviews and claims,” says Adam Powell, Co-Founder and COO of Policy Expert. Thanks to its agile cloud-based technology solutions that are built in-house, the company provides a smooth experience to its half a million customers buying home insurance.

In the UK insurance industry that has traditionally experienced marked complexity in pricing, Policy Expert offers accurate and competitive quotes by leveraging big data. “We analyse singular address point data, and we have an opinion on every single house that is based on hundreds of different criteria rather than relying on general postcode data that groups properties together,” informs Powell. The company also invests in multiple external data sources— including live finance data and credit scores indicators—that are fed into Policy Expert’s proprietary data engine to generate rich policy and pricing insights that are shared with the customers. Policy Expert’s single customer view permeates the various business functions, from acquisition to fulfillment to renewal and claims. The company matches every data point back to a single customer view to offer a competitive price for every customer.

Policy Expert’s operating model means one service agent is able to serve thousands of customers. “Most transactions happen online through our platform which is frequently tested and improved based on customer feedback,” says Powell. With a customer-centric approach, Policy Expert remains keen to understand the unique personalised policy needs of its customers.


"Most transactions happen online through our platform, which is frequently tested and improved based on customer feedback"


It offers customers various modes— including online and phone—to voice their requirements before offering them a quote. The company also takes pride in maintaining competitive policy renewal prices year-on-year, which has been another reason for growing customer loyalty.

Policy Expert spends more than £35m every year on repairing the homes and replacing the possessions of its customers when untoward incidents occur. By rapidly responding to customers’ emergency situations through its in-house claims team, Policy Expert remains in firm control of the customer experience.

The numbers talk for themselves as the company has consistently clocked more than 20 percent CAGR over the past few years, making it a formidable player in the UK general insurance space. Policy Expert is one of the UK’s top 20 home insurance providers, and also the top-rated home insurer on the independent review platform, reviewcentre.com, for an unbroken stream of six consecutive years. Other accolades include being adjudged the ‘Best Home Insurance Provider’ in 2017 and 2018 consecutively by Insurance Choice Awards; and also bagging three awards as ‘Innovative Company of the Year’, ‘Growth Company of the Year’ and ‘Game Changer of the Year’ in the insurance space at the ACQ5 Global awards 2018 and 2019. Policy Expert has also been selected as one of the top 100 most disruptive companies in 2019 by D/SRUPTION50.

Already an active player in several insurance areas, Policy Expert recently bolstered its automotive insurance wing with the acquisition of motor insurance business, Sure Thing! This acquisition will support the company’s plans to expand into the motor insurance market and build on its position as one of the top 20 UK home insurers with over 550,000 live policies, the first policy being sold in May 2011. To deliver higher value to its customers, Policy Expert is looking to leverage IoT and other connected technologies to mitigate insurance risk, reduce prices further, and provide even better services.