In response to the announcement on the buzzvault website, “We are currently undergoing a restructure of our insurance business which means we are no longer selling insurance policies in the UK”, its CEO Becky Downing issued the following statement:
“At buzzvault, we set out to provide customers with a better home insurance experience, with more accurate cover at the right price and with a less stressful claims process.
"We have been overwhelmed by the positive feedback and support we have received since launching and are proud of what we have been able to achieve for our customers.
“After comprehensive review of the market, we have made the decision to restructure the business so that we will no longer be selling insurance policies direct to consumers in the UK.
“buzzvault policy holders will remain in good hands. The policy they purchased remains active until their policy end date and our amazing partner and capacity provider, Great Lakes Insurance SE, remains committed to ensuring that our customers suffer no detriment during the transition and will continue to provide cover until the expiry of their policies.”