Marshmallow, the digital insurance provider, has today announced the launch of a new product, Marshmallow Van. The first product expansion outside of Marshmallow’s core car insurance offering, the launch of Marshmallow Van signifies further growth for the unicorn off the back of its Series B round. The product covers van owners who use their vehicle for social purposes, domestic use and commuting.
Since launching in 2017, Marshmallow’s award-winning car insurance cover has grown by 120% year on year, across the country. Marshmallow employs technology, big-data and artificial intelligence in order to address outdated biases common in the industry. In return, Marshmallow provides a more precise and affordable policy.
Marshmallow Van will now provide private van owners with a tailored insurance policy at an attractive and accessible price that leverages Marshmallow’s advanced risk assessment technology. Van owners will also benefit from Marshmallow’s Uninsured Driver Promise, protecting drivers’ No Claim Discount and returning the excess to them if hit by an uninsured driver.
The announcement is the latest in Marshmallow’s ambitious plans for growth and comes after Marshmallow launched Marshmallow Breakdown Cover, powered by The AA, to provide award-winning roadside cover for its customers in January. Van owners will be able to add Marshmallow Breakdown Cover as an option to their existing coverage, as well as No Claims discount Protection and Motor Legal Protection.
Martin Schwitzner, Vice President of Product, Marshmallow said, “Marshmallow’s mission is to create a more accessible and effective insurance experience at a great price for everyone. We want everyone to be priced fairly, and then we want to provide the best customer experience.
“We are excited to extend our offering to Van owners across England, Scotland & Wales and provide our award-winning insurance plans to an even wider customer base.”
First, the policy can be purchased through Price Comparison Website Quotezone. Then Go Compare and Confused will follow. Marshmallow.com will soon offer a direct purchasing option.
Marshmallow’s next phase of growth saw it launch its first major integrated advertising campaign. This included over 200 billboards, social media channels, and digital video. The campaign culminated in Marshmallow’s TV debut on the 10th of May. The campaign combines bright, bold and tongue-in-cheek billboards along with marshmallow-filled TV ads. It is yet another statement by the digital insurance provider about its intent to break insurance industry category norms.