British Insurance founder Simon Burgess and his wife Sara-Ann are set to launch a new insurance provider.
The pair are understood to have netted £25m through the sale of British Insurance to Towergate in January 2008.
The new provider will launch next week under the brand 07. It will offer seven insurance products which it believes are most important for families to protect themselves, including income protection and life insurance. It will also offer general insurance products such as motor insurance, home insurance, health insurance, pet insurance and travel insurance.
Simon Burgess says the list would have ideally included accident, sickness and unemployment cover but he is prevented from offering this due to an agreement not to compete with British Insurance in the UK. The couple will be using the Burgesses brand to sell similar products in the US.
They have also set up a number of other limited companies in the UK to market the same suite of products under different brands. Simon Burgess says this is so that he can boost sales through multiple listings in Google.
He says: “We want to provide the essential insurance products for consumers at a low cost and high calibre. Things are very tight at the moment and families have limited res-ources, so good value will be very important.”