A new app-based insurance product has been launched by Ageas, designed to revolutionise the way Millennials protect their possessions and travel experiences.
Back Me Up, powered by insurance giant Ageas, offers all-in-one place cover, managed and customised via an app. Users can upload photos and categorise items they wish to protect, then switch them in and out via the app as often as they want.
With no annual contract, users can turn cover on and off without any penalty fees or charges to pay. Designed and built in partnership with a panel of Millennials, Back Me Up specifically targets young, independently minded people who find insurance a ‘reluctant purchase’ and ‘overpriced’.
Paul Lynes, Managing Director at Back Me Up, commented:
There’s a huge gap in the UK market for an entirely new type of insurance that is entirely app-based. Until now, Millennials have had to engage with the insurance industry on its terms – but all that is now set to change.
Back Me Up provides flexible, relevant cover that’s designed by the very people who will use it. It’s an ‘all-in-one’ lifestyle product that puts people in control by letting them decide to insure what’s important to them, not the other way around.
For a flat fee of £15 per month, Back Me Up’s Core Cover protects:
Three items or ‘Stuff’ – switchable at any time by uploading a photo, against accidental and malicious damage, loss and theft, with a claims limit of up to £3,000 in total each month;
Annual mobile phone screen repair, regardless of whether the phone is one of the three items or not;
Worldwide and UK travel cover for lost items, cancellations and medical emergencies;
Up to £1,500 for replacement car or house keys and locks,