Company: Bought By Many
Founder(s): Guy Farley, Steven Mendel
Description: Bought By Many is an award-winning pet insurance provider that is disrupting insurance distribution.
Bought By Many is a multi-award-winning pet insurance company disrupting the sector. With advanced technology, they offer new solutions in the world of pet insurance. Relying on in depth customer research in order to identify unmet customer insurance needs and analyse anonymised internet search data, they harness this research to offer innovative customer solutions.
The company was launched in 2012 and completed a seed funding round. Already by the following year they had earned the title of Insurance Website of the Year. In 2013, they were identified by Morgan Stanley and the Boston Consulting Group as a global exemplar of innovation in insurance distribution. They won the award for the Best Use of Mobile Technology at the Digital Insurance Awards.
By their 3rd year of existence, they had already exceeded 100,000 members. They launched their SaaS platform in China in partnership with Ping An Insurance, enabling them to expand globally. In the same year, they completed a second funding round and became regulated by the FCA. They made their first acquisition, acquiring UK-based Brooks Braithwaite (Sussex) Ltd and were named Fintech Innovation of the Year & Insurance Start Up of the Year.
In the last few years, not only have been acclaimed with yet more awards, they have signed long-term insurance agreements, expanded to more countries across Europe, completed Series A funding and cover over 200,000 pets across the UK.