Direct Line Group, a UK motor and home insurer, has agreed to acquire Brolly, a London-based digital insurance start-up that offers flexible, customized insurance products, for an undisclosed price.

The deal, which is conditional, is likely to be completed during Q3 2020.

Brolly is said to build digital insurance by combining technology and partnerships with major UK insurers. It was established by Phoebe Hugh, whose objective was to revolutionize insurance by designing products that make buying, handling, and also claiming an affordable, intuitive and straightforward experience.

Last August, Brolly introduced an insurance product called Brolly Contents which is a fully-digital contents insurance app aimed at renters and homeowners for providing flexible cover in a simple monthly subscription.

Phoebe Hugh – Brolly CEO said: “I started Brolly to reinvent personal insurance, and by listening and adapting to a new generation of consumers, we have made great progress so far. I’m thrilled to be taking the next step in this journey that will allow myself and my team to scale the technology and products to a much bigger audience.

“We are excited to continue to build beautiful and personalised products to simplify insurance within Direct Line Group, one of the UK’s most innovative large insurers.”

Direct Line Group said that the acquisition of Brolly is in line with its vision to offer products that help people get along with their lives, giving them peace of mind now and also in the future.

The team behind Brolly are likely to join the UK motor and home insurer to consolidate on their work they have done so far with a goal to help the latter to speed up its transformation to become a top digital player in insurance, by offering products that are customized, easy to use, and also available everywhere.

Kerry Chilvers – Marketing Director at Direct Line Group said: “We are delighted to announce our plans to acquire Brolly and are looking forward to welcoming Phoebe and her team to the Group. We both want the same thing which is to give customers value and simplicity.

“We know that we can learn a lot from Phoebe and her team and we are looking forward to channelling their excitement and significant expertise to help us with our ambitious plans.”

  Direct Line Group, Insurance, Insurance acquisition news, Insurance industry news, Kerry Chilvers, London, Phoebe Hugh