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Millennials – Renters valuable items, gadgets and contents insurance

We had been researching a number of suitable products to launch for Commercial and General (our first broking customer). We wanted to demonstrate the benefits that Blocksure OS could provide especially in a difficult to serve market segment.

Millennials are coming of age and will soon form the main segment of customers for the insurance industry. Yet, their consumer needs and behavioural preferences are rarely taken into account by brokers and insurers when developing or distributing insurance.  In Canada, a survey by Princeton Survey Research Associates International reported that 66% of millennials rent their homes and of that subset 70% don’t have renters’ insurance. The same trend is true in the UK and they are really underserved when it comes to insurance for their belongings. If they do buy insurance then it is likely to be on a mobile platform as this is how they like to be engaged.

We found that customers in this segment move property at least once a year or require a change in cover during that period. So existing products that incur high administration charges for any changes deter them from buying insurance.

Our challenge was to design a mobile-based application that provided a full-service experience for the millennial customers.


Blocksure has developed a renters valuable items, gadgets and contents insurance product for millennial market. It allows the policyholder to self-manage all their policies and claims seamlessly in a mobile application.

The policyholder buys their policy in a mobile application (an insuredapp), update their personal details and self-manage the policy, whereas a mid -term change processed in the traditional manner would incur a £20 – £50 charge.


Commercial and General created a new on-demand brand – Insure Now to launch the first product. We developed an insuredapp for them that is transformational and provides millennials with a suitable product whilst delivering all the broker and insurer’s back office processing requirements.  This is a Mobile app that allows customers to manage all aspects of the policy from a single application – sales, renewals, policy amendments, claims and payments.

The back office functionality ensure that the broker and insurer receive all policy information and details in real time without the need for any back office processing. Premium allocation is automated so each party receives the correct cash amounts. Insurers and brokers can stop worrying about all the back-office processes that are inefficient and benefits for full capabilities of Blocksure OS.

Commercial and General have drastically reduced their back office costs and estimate that the saving could be as great as 90%.

“Customers want to be able to purchase a policy with minimum fuss and at the right price with an easy to use claims reporting process.” Bradley Brandon-Cross, Director Commercial and General