Investment, insurance.. and cats! Must be Friday :)
Exciting news for Bought By Many this week, who announced their Series B funding. The business is built on the brainwave of creating groups for people with specific insurance needs – this insurtech firm then negotiates deals and discounts with established insurers. As a side note, I am somewhat the black sheep of the immediate Hudson family, with a non-insurance career, so I am extra pleased that the innovation we are now seeing in this area means that this sector is now firmly on my tech radar.
Bought By Many takes the notion of customer-centricity to the nth degree. In a world of compulsive sharing, and community building, their approach to creating groups (with a common insurance need, and therefore interest) is arguably smarter than the ‘segment of one’ nirvana we hear so much about. Who wants to be an island, when you could be surrounded by like-minded exotic pet owners / gadget geeks / committed campers / creative crafters [delete as appropriate]. Community is king, and it’s a content marketing dream. Endless potential to provide engaging, entertaining, informative or quirky content that tap into group interests, with no hard sell.
With the ex-Shazam chairman on board, a shelf full of award wins, and a new wave of funding, looks like this team is well on their way to their dream of making insurance better. I challenge you to go to their pet insurance page, and not be taken in by those glistening black Labrador eyes.
Odey-backed London insurtech startup Bought By Many has raised a £15m series B funding round