Bought By Many uses social media and bulk buying to lower costs for diabetic travel insurance
~ New policy uses people power to allow consumers to club together to bring down insurance costs ~
22 March 2013 – Bought By Many, the company bringing people power to insurance, has launched a new offer for people with diabetes, giving them access to savings on travel insurance. The offer has been secured with Free Spirit Travel Insurance and will see consumers receiving a 12.5% discount off both annual multi-trip and single-trip travel insurance policies. Significantly, there is no upper age limit for applicants - a common issue faced by older people with Type 2 diabetes.
Bought By Many uses social media to level the insurance playing field for consumers by connecting people with similar insurance needs into social buying groups. It then creates the opportunity to buy insurance on more favourable terms than would be available to them as individuals.
“We have extensive experience of arranging insurance for people with diabetes, who often face challenges getting cost-effective cover due to their pre-existing medical condition,” said Peter Hayman, Director at Free Spirit. “Using social media to bring people with the same need together is an exciting and rewarding thing for us to be a part of.”
“We specifically chose to work with Free Spirit because of their experience, but also because they were willing to cover people regardless of age,” said Steven Mendel, CEO and co-founder of Bought By Many. “Diabetes shouldn’t be a barrier for travelers. And in agreeing this offer, we’ve shown that great things can be achieved when people club together ”
About Bought By Many
Bought By Many uses social media to level the insurance playing field for consumers. It connects people with similar insurance needs in social buying groups. These groups can consist of people who share a postcode, a profession, a passion – or anything else. It then creates the opportunity to buy insurance on more favourable terms than would be available to them as individuals. And for insurers, it creates the opportunity to reach the risk segments they most value, profitably, and at meaningful scale. For more information visit boughtbymany.com.
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