WHAT IS HONCHO?
honcho is the reverse auction marketplace for financial services. Bringing buyers and sellers of insurance together into a competitive marketplace where insurance providers bid against each other in real time to present the most suitable product at the best price, in order to win consumers’ business.
Gavin Sewell – Previously started his own Paris-based hedge fund. Outside of honcho you’ll find Gavin hanging off cliffs without ropes.
Frank Speight – Insurance industry veteran, Frank previously held senior positions at Aon, Eagle Star, Lloyd’s of London and Citigroup. In his spare time Frank is a committed gig-goer and aspiring rock star.
Personal lines insurance distribution is fundamentally flawed, for both insurance providers and consumers.
Consumers are encouraged to buy the cheapest product rather than the most suitable.
honcho’s fair, open and transparent real-time reverse auction marketplace, allows product vendors to optimise their product and price to the benefit of consumer outcomes.
“Great ideas from potential disruptors are plentiful, but the journey to shaping them and cutting through is rarely straightforward. We knew from our first meeting with the Gateway that our vision of scaling honcho into a significant, disruptive brand would be a real possibility with their support and sector expertise. Exciting times await us all.”
Gavin Sewell, Co-Founder and CEO, honcho
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“Today’s consumers rightly demand fairer, more transparent insurance. Honcho‘s new model delivers this. It reduces commissions, eliminates bias and allows consumers to make purchasing decisions on product as well as price. We’re delighted to be joining honcho‘s journey to revolutionising personal lines insurance distribution.”
Richard Chattock, CEO, Insurtech Gateway
“We’ve been with honcho since their launch, and we continue to be really excited about their entirely different approach to insurance distribution. honcho’s unique reverse auction marketplace adds another layer of competitiveness to our proposition that was not available elsewhere. honcho helps us to not just win business at the right price but to win the right business for us plus, on top of that, we’ve got real-time market insight that has simply never existed before.”
Andy Martin, Broker & Distribution Director, Marmalade