Cambridge based insurance start-up, Rnwl has won the Elevating Founders Fintech Industry award at London Tech Week.
Founded by serial entrepreneur Goncalo de Vasconcelos in 2019, Rnwl’s app, available in the app stores now, brings insurance peace of mind to the millions of motorists in the UK who forget their car admin dates.
As well as reminding drivers to renew their MOT, car tax and insurance, drivers can also get help in a breakdown, even if they don’t have a breakdown policy.
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The Rnwl team added breakdown help to coincide with the September highway code changes. Rule 98 now states that drivers should have a mobile phone with emergency contacts stored, including breakdown.
De Vasconcelos founded Rnwl after struggling to stay on top of his car insurance admin and was stunned to find that many other drivers were in the same position:
- A recent study by Kwik Fit found that up to 29% of drivers forget to renew their MOT.
- The DVLA handed out more than 1.2m enforcement notices in 2019 to drivers with untaxed cars.
- The Financial Conduct Authority found that Brits could be saving £1.8bn annually on motor and home insurance premiums if they switched rather than accepting the price given by their current insurer.
De Vasconcelos said, “We’re thrilled that Rnwl has won FinTech of the Year at London Tech Week. It’s great recognition for our app and the work we’re doing to make life easier for millions of motorists in the UK. It’s just the start for Rnwl. We’re working on launching lots of new features over the next 12 months which will give our customers, and their friends and family, insurance peace of mind.”