6 years ago

Urban Jungle Secures £2.5 Million Seed Funding to Disrupt UK Insurance for Renters

  • Urban Jungle, a digital insurance startup targeting renters with a range of insurance products, has raised £2.5 million in a seed funding round

  • The round is backed by investors including Rob Devey, the former CEO of Prudential UK, and Simon Rogerson, CEO of Octopus Group

  • Urban Jungle offers contents insurance, gadget insurance and tenant-liability policies, including a pay-as-you-go policy, and says it is committed to transparent pricing policy terms

  • The startup claims 15,000 plus customers and says it's growing more than 30% per month.

      • ProblemFinancial Services

      "Making insurance accessible to renters in the UK, who often find themselves underserved by traditional insurance providers. Renters have to deal with high prices, complex terms, and unfair pricing practices that are often based on outdated information. They are often asked too many questions about things outside their control, which leads to resentment and a lack of trust in the insurance industry."

      Solution

      "Offering a range of insurance products specifically tailored to renters, including contents insurance, gadget insurance, and tenant-liability policies. The startup aims to make insurance cheaper, easier to buy and manage, and more accessible to renters through a digital platform. They also leverage technology to automate processes, reduce costs, and use data to customize cover and create fairer pricing. Their pay-as-you-go policy also provides a more flexible option."

      Covered on