FreeAgent partners with Hiscox

FreeAgent, the UK-based accounting software for small businesses acquired by the NatWest Group in 2018, is now enabling users to obtain insurance quotes from Hiscox directly through its accounting software.

The partnership – the first of its kind in the UK according to Hiscox – leverages AI and financial data to help identify small business owners who could benefit from insurance while generating quotes to fit their individual requirements.

FreeAgent is also integrating with NatWest’s digital banking platform to allow the bank’s business clients to view their finances and accounting together.

“Our close partnership with FreeAgent allows us to offer our business customers a market-leading accountancy platform, free of charge. We’re delighted today to make one of the most significant improvements to date by integrating FreeAgent within NatWest Online Banking. Combined with a truly smart insurance offering, we believe that we offer the most compelling and innovative business package for SMEs in the UK.” – Andrew Harrison, Head of Business Banking, NatWest.

“We want FreeAgent users to feel confident about their finances and be as well-prepared as possible. Through our ongoing work with NatWest and our new partnership with Hiscox, we’re really pleased to be introducing game-changing new features to support small business owners and help them deal with whatever lies ahead. By harnessing the power of Open Banking and smart data insights, customers not only enjoy a clearer overview of their accounts but can make more informed choices about how to run their businesses. In addition, by providing smart quotes from Hiscox to our customers based on their individual requirements and then facilitating the whole insurance purchase journey from right inside our software, we can help them protect their businesses more easily.” – Ed Molyneux, CEO and cofounder of FreeAgent.