Online reverse auction marketplace for financial services Honcho has become a member of the British Insurance Brokers’ Association (Biba). The InsurTech start-up noted it had to go through a “robust approval process” in order to join the trade body. The business has previously stated that it is set to disrupt the car insurance sector, particularly price comparison websites, by allowing car insurers to bid for business from consumers. Mobile app Honcho is a product of Honcho Markets, which is Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content. To access these options, along with all other subscription benefits, please contact [email protected]. You are currently unable to print this content. Please contact [email protected] to find out more. You are currently unable to copy this content. Please contact [email protected] to find out more.
UK insurtech Honcho has become the first reverse auction marketplace to become a member of the British Insurance Brokers' Association. The company was launched with a view to disrupting the car insurance market by enabling insurers to bid for business from car owners. Honcho plans to launch its app in early 2019, and has ambitions to expand into the home, pet and travel insurance sectors.