British Insurance founder Simon Burgess and his wife Sara-Ann got £25million through the sale of British Insurance in 2008. Rather than do what most of us would do, retire and enjoy life, they are launching a new online insurance service under the brand 07. It will offer income protection, life, health and travel insurance.
The new company cannot offer accident, sickness and unemployment cover as Burgess is prevented from offering this due to an agreement not to compete with British Insurance in the UK.
The couple have reverted to a marketing trick they used with British Insurance. They have set up a number of companies in the UK to market the same products under different brands to boost sales through multiple listings in Google.
The aim is to offer high-value low-price products for individuals and families.