Wrisk

Wrisk launches and scales digital insurance solutions, working directly with partners that include BMW, RAC and Allianz Automotive. Its Pro Motion™ suite of capabilities provides solutions for mobility companies, from POS integration, unbundled and incentivised insurance through to supporting mobility as a service.

Wrisk formerly offered its own contents insurance through the Wrisk App, where customers were able to buy insurance, as well as manage policies and claim via the mobile app, which includes features such as a personalised ‘Wrisk Score’ to help users understand and improve their risk and reduce their premiums. This closed in March 2020 as the business chose to focus on its partner solutions.

It spent the start of 2018 as part of FCA’s regulatory sandbox’s third cohort, following its authorisation from FCA UK in December 2017.

Wrisk has received seed funding from QIC, Hiscox, and Oxford Capital Partners, and already lists Munich Re, BMW and Hiscox as strategic partners.

As of late February 2019, Wrisk has attracted more than 4,000 customers and £1.8 million in gross written premium. It entered into a strategic partnership with Allianz to 'modernise motor insurance'. Through the partnership, Wrisk gained access to more than 40 motor brands.

In August 2019 Wrisk announced that COO Nimeshh Patel has been appointed to the position of CEO. Former CEO and Co-Founder Niall Barton remains at the company as Executive Chairman.

In November 2019 Wrisk announced its first mileage-based car insurance product with the RAC. The monthly subscription service also has a selection of add-ons to choose from, including personal industry cover and accessory cover. The RAC has also become a strategic investor in the startup.

Also in 2019, Wrisk extended its partnership with BMW Group to provide all new UK-sold Minis with three months free car insurance.

In March 2021 Wrisk partnered with RAC to offer pay-per-mile subscription car insurance.

The following year, in March 2022 Wrisk launched Wrisk USA Corp, a US-based subsidiary, to help launch its platform around the world. The new insurtech will be based in Hartford.

In June Wrisk raised around £1.1M via Seedrs from 275 investors. The company has a pre-money valuation of $29.6M. Wrisk has 20k+ active policies in writing, with around £9m of annualised GWP, and is making a push in the US, with 'advanced conversations' ongoing with US OEM and insurers.

In July 2023 a Canadian investor, Flow Capital, invested an undisclosed amount in Wrisk.  Wrisk wo;; use the fresh capital to accelerate the development of products, boost growth in the UK and in continental Europe, as well as help wider international expansion.

Later in August 2023 Wrisk entered into a new partnership with Volvo Car UK. The collaboration involves a completely redesigned, fully branded motor insurance proposition for both existing and new Volvo customers. Wrisk's unique flexible subscription product, supported by a user-friendly 24/7 digital customer journey, enhances the online experience. The platform's adaptability to changing retailer roles strengthens their solutions while seamlessly embedding insurance throughout the vehicle user/ownership lifecycle. Wrisk aims to continue delivering innovative mobility solutions to support partners' objectives and requirements.