Worry+Peace is a UK based insurance broker re-imagining the entire insurance process by building tools to deliver an all encompassing insurance experience rather than mere policy management features. The launch of the Pouch insurance dashboard app is one step further in this direction.
Pouch, as Worry+Peace envisages, is a virtual file or wallet that allows users to store information about insurance quotes, policies and claims, regardless of which insurer is underwriting a particular risk. Users can add policies to their Pouch and can also visualise the big picture of their insurance spend.
Additionally, Worry+Peace has opened up Pouch to third party industry sellers, creating an Amazon-esque marketplace for insurance, which will ultimately connect users to all Worry+Peace products and services in addition to third party insurance sellers that Worry+Peace offers.
The genesis of Pouch concepts was the need to connect Worry+Peace’s online self-service portals that Worry+Peace operates with its vast range of specialist insurances products that it distributes offline. Additionally, Worry+Peace created ‘digital’ interfaces for the offline product too which means Worry+Peace has automated all the previously manual work and a user simply needs to log in and click a button.
Essentially, with Pouch, Worry+Peace is attempting to establish itself as an end to end insurance platform, regardless of who actually insures the consumer. Using this approach, and with a particular emphasis on design, Worry+Peace is hoping to increase the retention rate of its customer base in addition to encouraging consumers to switch their coverage to Worry+Peace upon renewal of their current policies.