Open, an Australian InsurTech, has acquired UK company So-Sure, a provider of mobile phone and contents insurance, for an undisclosed sum.

So-Sure offers mobile and contents insurance through a unique business model, which reinstates consumer faith in the claim process by offering straightforward assistance and quick replacements of items when required. Moreover, its platform enables groups of users to connect their policies within their application, rewarding no-claims behavior by returning up to 80% of the premium to its customers at the end of the year.

Following the acquisition, Open aims to utilize So-Sure's business model as a growth driver within the UK market. This move marks a significant step in Open's expansion plan, as the company continues to strengthen its global footprint