You are here: Home - News -

Start-up insurance provider to challenge established protection market

by: Edward Murray
  • 14/06/2017
  • 0
Start-up insurance provider to challenge established protection market
Start-up company, Gryphon Group Holdings, has raised £180m in funding to launch an insurance provider that will focus initially on life, critical illness and income protection products.

Investors will announce the name of the new provider later in the year and believe there is a gap in the market for a digitally-enabled business that is distributed through advisers.

Daniel Pender (pictured right), former executive director at Prudential and UK life chief financial officer at Zurich, will act as the company’s chief executive officer.

Simon Davis (pictured left), former chief risk officer at Guardian and corporate services director at Admin Re, will be the chief operating officer.

Advised by Craven Street Capital Limited, Gryphon Group Holdings has raised the funding required from investors Leadenhall Capital Partners and Punter Southall Group.

Dan Knipe, life portfolio manager at Leadenhall Capital Partners, said: “Life protection is an area where good customer outcomes are vital, making a service-focused challenger an exciting proposition. We see strong growth potential for the business as the management team have a deep commitment to their vision and bring significant industry and technology expertise to make it a success.”

Jonathan Punter, CEO of Punter Southall Group, said: “We already know there is a significant protection gap in the UK. This translates into a great opportunity for an insurance company that can solve the issues of customer trust and adviser experience. This company, with its new approach, will be well placed to meet these challenges head on.”

Commenting on the launch, Pender added: “We are creating what we think protection should look like in today’s digital age. Technology has moved on remarkably and our ambition is to embrace that, bringing an intuitive customer offer and adviser experience to market. This will give certainty to advisers when recommending our products and enable families to feel confident that we can offer the insurance that they need.”

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @ashridgepf: Well what a surprise! We love our clients and they obviously are quite fond of us. Mortgage applicants find humans more r…
  • RT @DanielleDennis9: Always love reading through the tweets of the year every December! Have a look through to recap on a great year https:…
  • RT @mortgagestall: Great to see the hard work brokers put in is getting ever-more recognised https://t.co/cg4ZaJzZJZ
Read previous post:
A man hands over some keys
Rental yields could fall to 3.5% by 2027 – Shawbrook

Buy-to-let yields could fall to 3.5% by 2027, according to analysis by Shawbrook Bank.

Close