We're absolutely thrilled to announce that we are now officially regulated by the UK's Financial Conduct Authority (FCA). This is a huge milestone for us as it essentially means we have permission to arrange insurance policies – which is pretty important for a car insurance firm (to say the least).
We've been approved as what's known as an insurance intermediary, so once we've finalised pricing with our underwriting partner, we'll be ready to gear up for our UK launch. If you want to look us up, our number with the FCA is 773046, and we'll wear it with pride.
Rod Jones, an insurance expert at uSwitch.com, had some kind words to say about this news:
"It is refreshing to see new entrants such as By Miles challenging the established car insurance providers with its customer centric proposition.
By only charging drivers for the miles they actually drive, it could provide some welcome relief following a series of price hikes over the past eighteen months.
This kind of innovation has been lacking in recent years, as insurers have fallen behind the technological boom we are currently experiencing within the motor industry."
Watch this space as we move steadily closer to our UK launch. If you haven't already, do make sure you sign up to the By Miles waiting list to ensure you're the first to know when our launch date is confirmed.
You can read the full press release here.