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Redu And Honcho Announce Innovative New Partnership

North East firm Redu has teamed up with Honcho - the world’s first reverse auction marketplace - to offer a unique money-saving rewards scheme to its customers. Here Honcho’s Chief Digital Officer Graeme Stoker explains more.

At Honcho, our mission is to bring trust, fairness and transparency to the insurance market. That’s why we launched the world’s first reverse auction marketplace.

Our technology platform provides consumers with a simple, cost-effective and engaging way of buying insurance products and services.

Through Honcho’s reverse auction marketplace, insurers bid for the consumers’ business, which ensures a highly competitive quote and puts their interests at the heart of the transaction.

Since our launch in August, we now have 10,000 people signed-up to our app, with over three quarters of those actively using it to find the best deal on their insurance.

We were delighted with this response and needed to find a way to reward our customers – and that’s where fellow North East tech business Redu came in.

FREE CUSTOMER PERKS THROUGH REWARD ME NOW

Redu offered us the opportunity to thank our customers by harnessing the unique money-saving power of its Reward Me Now app.

As part of its free Reward Me Now for business service, Redu built us a Honcho-branded app - ‘Honcho Rewards’ - which allows us to secure major discounts at over 100 top brands providing savings for our customers. The app is so accessible and easy to use and the team at Redu are constantly adding value to it.

The thing that really excites us about the platform is it offers discounts at retailers that people regularly go to so consumers using Honcho Rewards can save really quite a lot of money over the course of a year. Giving consumers the opportunity to regularly save a little bit of money is a really great way to keep the cash in their pocket.

It’s about thanking our Honcho customers with a rewards app that comes at no cost to them, but equally no cost to us.

A PARTNERSHIP OF INNOVATION

Redu, like ourselves, are a County Durham-based business and the innovative work they were doing in the retail space reflected the innovative work we are doing in financial services. There was a lot of affinity between the transparency and affordability that we’re trying to bring into the insurance market and what they’re bringing to the retail market. Technology firms are traditionally London-based and to find two of us in County Durham doing really innovative things - it made sense that we worked in partnership together. We are delighted to partner with Redu and look forward to working together to get the very best deals for our customers.

How does Reward Me Now work?

Reward Me Now is an instant discount app offering shoppers exclusive high street savings of up to 18%.

Members receive discounts at high street stores and online brands, including Asda, Pizza Express, Asos and Argos, to name a few.

The savings innovation brings discounts and savings offers together into one app to give users a simple and effective way to access discounts and save on their everyday spending.

Working in partnership with over 100 brands and growing, Redu offers instant discounts all year round, allowing savings both online and in-store, with regular users saving over £500 per year.

The app includes on-the-go deals and offers, updates via app notifications and e-mails, personalised deals, and the ability to track savings.

The brand portfolio includes retailers across the high street, supermarket, entertainment, food and drink and travel.

Reward Me Now for business is available completely cost-free to companies that would like to offer their employees free perks through a specially-designed app branded to suit your corporate style. For more information on Reward Me Now for business, email j.ward@redu.co.uk or call 01915630995.

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