Virgin Money, the high-street bank, is partnering with Superscript, the insurtech scale-up, to provide its business banking customers with customisable, flexible, subscription-based business insurance.
Superscript will be the business insurance provider on Virgin Money’s new online marketplace, where their business banking customers can get access to a range of digital services by best-in-class providers, all in one place.
Small businesses have traditionally been underserved by insurers, with bundled policies and clunky contracts meaning they often either pay over-the-odds for their insurance, or aren’t properly covered. Superscript is transforming the process for small businesses by offering tailored, monthly, unbundled insurance cover which perfectly suits their needs. Superscript customers can get a quote online in a matter of minutes and just a few clicks, and can update and change their insurance any time for free.
The partnership represents a further step for Virgin Money in the development of its business bank digital proposition for SMEs.
Henry Newby, Partnerships Director at Superscript, said:
“We are delighted to partner with Virgin Money on their new business banking online marketplace. Virgin Money is a big high-street bank, growing fast, and developing a really strong digital offering. It is also the first high street bank that Superscript has partnered with, so we are excited to be at the forefront of its digital proposition and for the mutual opportunities this holds.”
Graeme Sands, Head of Business Lending & Products at Virgin Money, said:
“This new partnership with Superscript reinforces Virgin Money’s commitment to helping our small business customers make managing their business as easy as possible. We know our business customers want the freedom to adjust their cover as, and when, things change, and this business insurance platform innovates to provide exactly this sort of flexibility”.
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