Bought By Many

insurtechsoftware/whitelabel/apis-insurtech

FOUNDING YEAR: 2012
LOCATION: United Kingdom
Last Update: 17/07/2020

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About

Bought By Many is an award-winning insurtech that is leading the way in creating better insurance products and customer experience.We analyse anonymised search data to identify the problems with existing insurance offers. Our teams then look at how we can improve every aspect of buying cover, from creating unique products that fulfil unmet demand and developing cutting-edge databases to streamlining the user experience and pioneering online claims.We build tech solutions with humans in mind and thousands of customers have given our service 5-star reviews.Company milestones:o 2012: Launched boughtbymany.com. Completed seed funding round.o 2015: Surpassed 100,000 members. Launched SaaS platform in China in partnership with Ping An Insurance. Became directly regulated by the FCA. Acquired Brooks Braithwaite (Sussex) Ltd - the UKs leading provider of insurance for exotic pets and pet businesses. Named Fintech Innovation of the Year & Insurance Start Up of the Year.o 2016: Completed Series A funding round. Won the Innovation in Insurance Award at the Fintech Innovation Awards. Named in the FinTech 50. Signed long-term insurance agreement with Munich Re.o 2017: Launched Bought By Many-branded cat & dog insurance. Surpassed 300,000 members.o 2018: Completed Series B funding round. Named as one of Wired's hottest start-ups in Europe. Ranked 13 on the Sunday Times Tech Track 100. Surpassed 600,000 members.We have an exceptional team of 100, based across three sites in Farringdon, Central London; Haywards Heath, Sussex; and Birmingham. We're always interested to hear from people who'd like to learn about career opportunities at Bought By Many, and we're currently recruiting for roles in the development, product and people teams. Learn more at https://boughtbymany.com/jobs/.

MEDICI Analysis

Brings the Groupon model to insurance distribution. Uses social media to connect people with similar insurance needs in social buying groups. The group buying model allows them to negotiate favourable terms, cashbacks and discounts from insurers and insurance distributors.

Focus

PRODUCTS & SERVICES

Social insurance app for healthcare.

MAIN CLIENTS

Pet Insurance

Car Van & Bike Insurance

Phone Gadget & Item Insurance

Health Insurance

Business & Professional Insurance

Sports & Leisure Insurance

Home Insurance

People

FOUNDERS

Guy Farley

Steven Mendel

BOARD MEMBERS AND ADVISORS

Matt McElhattan

Malcolm Ferguson

Rob Devey

John Straw

NUMBER OF EMPLOYEES

51-200

INVESTORS:

CommerzVentures

Crispin Odey

Evelyn Bourke

FTV Capital

Global

Marsh

Munich Re

Munich Re Ventures

Octopus Ventures

Odey Asset Management

Upscale

KEY EMPLOYEES:

Steven Mendel(CEO); Guy Farley(CTO); Steven Mendel(CEO)

Momentum

FUNDED

YES

TOTAL FUNDING

$132.98 M

DATE OF LAST FUNDING

May 2020

TOTAL FUNDING COMMENT

The company will use the funds for the development of new insurance products and technology. (July 2018)

FUNDING SERIES

SERIES A  · $9.03 M  · Jan 2017

SERIES B  · $26.39 M  · Jul 2018

SERIES C  · $97.57 M  · May 2020

LISTED

NO

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