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A new Tinder-style insurance app that enables users to get pay-as-you-go insurance for tech has launched in the UK.
Back Me Up enables users to insure up to three key items – for example smartphone, tablet and laptop – for £15 a month. This also extends to provide travel cover, device screen repair and lost keys. Policies can then be customised from within the app by using “bolt ons” to add various items depending on your circumstances.
The three items at the centre of your cover are also logged by taking a photo of them in order to add them, with users then able to swipe them in and out as they tweak their cover.
The app is from long-standing insurance firm Ageas but is specifically aimed at younger users, with Back Me Up research claiming that five million 18-34-year-olds have no home contents insurance, while 2.3 million travel abroad without travel insurance.
Users can cancel a policy at any time and there are no annual contacts involved.
Paul Lynes, managing director at Back Me Up, commented: “People want to protect the things they value and the lifestyle they enjoy, and 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.
“There’s a huge gap in the market for an entirely new type of insurance, to meet the needs of young, independently-minded people. Until now, Millennials have had to engage with the insurance industry on its terms – but all that is now set to change.”
