Sky looks to disrupt home insurance market with new app-oriented product

Sky has diversified its personal lines offering to address its belief that people “deserve better” when it comes to home protection, a statement released today (2 May 2023) said.

The telecommunications giant has launched a new Protect Smart Home Insurance Package, underwritten by Zurich Insurance, that offers customers comprehensive home cover at a fixed price for 24 months, alongside a suite of smart home technology products worth £250 – both of which are accessible via an app.

Products include a video doorbell, indoor camera, leak detectors, motion sensors and contact sensors.

Stephen van Rooyen, chief executive at Sky UK and Ireland and chief commercial officer at Sky Group, said: “At Sky we have a heritage in entering new markets and shaking them up and we’re about to do the same with home insurance.

“We already make people’s lives easier at home through our TV, broadband and mobile services and with Sky Protect, we’ll be able to take the pain out of home insurance.

”From a simpler quotation process, to value you can see every day, to great tech, all working together in the Sky Protect app.”

Market goals

The announcement follows recent research from Sky, which highlighted that 27% of 2,000 UK adults were considering purchasing new smart technology in 2023.

Some 38% said this investment would make them feel safer when away from home, while 33% believed it would allow them to protect their home from intruders.

Meanwhile, 28% said it would help with energy efficiency and saving money.

Market research company OnePoll conducted the research on behalf of Sky between 13 April and 17 April 2023.

Zurich UK chief executive Tim Bailey said Sky’s new insurance product ”aims to prevent losses and provide financial peace of mind should the unexpected happen”.

“Zurich is already developing new digital products and services to meet the evolving needs of our customers,” he added.

“This new partnership combines Zurich’s expertise and trusted insurance brand with Sky’s technology and significant customer reach to help more people better protect their homes.”