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Insurtech startup, Cuvva smashes one million policies sold barrier
UK-based short-term insurance startup, Cuvva has sold over one million policies via its mobile app, and has experienced roughly 750 per cent growth in policy sales in the last two years. Since selling its first policy in 2016, the startup has sold over 32 million hours of motor insurance alone, providing a solution for UK’s sharing economy. Challenging the insurance sector, Cuvva was the first to provide both hourly motor insurance and insurance via an app in the UK.
Investment interest in insurtech is accelerating as new players exploit gaps that incumbent insurers are unable or unwilling to address. According to Willis Towers Watson, global investment in insurtech hit $1.42 billion in the first quarter of 2019. Additionally, the firm reported that deal count in the UK increased by 50%, during the same period.
New platforms are transforming the customer interaction model, differentiated product offerings are 10x’ing overall customer experience. Further activity will be seen in the sector as insurtechs develop customer-focused offerings, opposed to insurer led product-focused offerings, as seen in the past.
Commenting on Cuvva’s recent growth, founder, Freddy Macnamara said: “Cuvva is building a full-service insurance marketplace for the 21st century.
“Historically, lengthy, repeated sign up processes and complicated jargon-filled insurance policy documents don’t support customer needs. We are on a mission to change this by building insurance the way it should be – flexible, simple and jargon-free.”
Cuvva boasts unrivaled 24/7 customer support, with an average one minute response time. Thus far the company has expanded to offer short-term personal car, learner, van, taxi, and single trip travel insurance.
- Platform Veteran Geoff Towers Joins Platform One Board Read more
- Mastercard Advances Instant Cross-Border Payments with TIPS Cross-Currency Pilot Read more
- PayAngel Expands Global Payout Capabilities Through Collaboration with Visa and Currencycloud Read more
- Ryan Expands Global Presence and European Reach Through Acquisition of Svalner Atlas Advisors Read more
- Silverflow Accelerates Post-Series B Growth with New Amsterdam HQ and 20% Headcount Increase Read more
Platform Veteran Geoff Towers Joins Platform One Board
Geoff Towers, the CEO of multiple platforms throughout his career, has joined the Platform One board as a non-executive director.
Mastercard Advances Instant Cross-Border Payments with TIPS Cross-Currency Pilot
Mastercard today announced its participation in a Eurosystem-led pilot, conducted in collaboration with Danmarks Nationalbank and Sveriges Riksbank, on the TARGET Instant Payment Settlement (TIPS) platform, testing instant cross-currency payments (TIPS X-CCY). Participation in the pilot represents a key milestone in Mastercard’s strategy to build direct connectivity to payment infrastructures and demonstrates how instant cross‑border payments can be executed and settled instantly at infrastructure level.
PayAngel Expands Global Payout Capabilities Through Collaboration with Visa and Currencycloud
PayAngel (https://PayAngel.com), a cross-border payments platform built by migrants and shaped by a lived understanding of the migrant journey, today announced an expanded collaboration with Visa, a world leader in digital payments. Leveraging Currencycloud, a Visa Direct solution, PayAngel will strengthen its multicurrency account and international payout capabilities.
Ryan Expands Global Presence and European Reach Through Acquisition of Svalner Atlas Advisors
Ryan, LLC (“Ryan”), a leading global tax services and software provider, today announced it has entered into a definitive agreement to acquire Svalner Atlas Advisors, a premier independent tax and transaction advisory firm headquartered in Stockholm, Sweden. The acquisition will expand Ryan’s presence across the Nordics and Benelux regions while enhancing the Firm’s ability to deliver integrated cross-border tax and advisory services throughout Europe.
Silverflow Accelerates Post-Series B Growth with New Amsterdam HQ and 20% Headcount Increase
Silverflow, the cloud-native payment processing company, is accelerating its post-Series B expansion after signing a major new US customer, increasing headcount by more than 20% and moving into a new Amsterdam headquarters to support growing global demand.
RECCo Appoints Raidiam and PayPoint to Deliver the Trust Framework for the Consumer Consent Solution
RECCo, the Retail Energy Code Company, has appointed Raidiam and PayPoint to support the development of the Trust Framework that underpins the Consumer Consent Solution (CCS) for the GB retail energy market. The appointment marks a key step towards a more secure, standardised and consumer-focused approach to data consent in energy.
Loqbox and Blackbullion Partner to Close the Credit Confidence Gap for 450,000+ UK Students
Loqbox and Blackbullion have partnered to help more than 450,000 students build stronger financial futures through accessible credit-building tools and curriculum-linked financial education.
Platform Veteran Geoff Towers Joins Platform One Board
Geoff Towers, the CEO of multiple platforms throughout his career, has joined the Platform One board as a non-executive director.
Mastercard Advances Instant Cross-Border Payments with TIPS Cross-Currency Pilot
Mastercard today announced its participation in a Eurosystem-led pilot, conducted in collaboration with Danmarks Nationalbank and Sveriges Riksbank, on the TARGET Instant Payment Settlement (TIPS) platform, testing instant cross-currency payments (TIPS X-CCY). Participation in the pilot represents a key milestone in Mastercard’s strategy to build direct connectivity to payment infrastructures and demonstrates how instant cross‑border payments can be executed and settled instantly at infrastructure level.
PayAngel Expands Global Payout Capabilities Through Collaboration with Visa and Currencycloud
PayAngel (https://PayAngel.com), a cross-border payments platform built by migrants and shaped by a lived understanding of the migrant journey, today announced an expanded collaboration with Visa, a world leader in digital payments. Leveraging Currencycloud, a Visa Direct solution, PayAngel will strengthen its multicurrency account and international payout capabilities.
Ryan Expands Global Presence and European Reach Through Acquisition of Svalner Atlas Advisors
Ryan, LLC (“Ryan”), a leading global tax services and software provider, today announced it has entered into a definitive agreement to acquire Svalner Atlas Advisors, a premier independent tax and transaction advisory firm headquartered in Stockholm, Sweden. The acquisition will expand Ryan’s presence across the Nordics and Benelux regions while enhancing the Firm’s ability to deliver integrated cross-border tax and advisory services throughout Europe.
Silverflow Accelerates Post-Series B Growth with New Amsterdam HQ and 20% Headcount Increase
Silverflow, the cloud-native payment processing company, is accelerating its post-Series B expansion after signing a major new US customer, increasing headcount by more than 20% and moving into a new Amsterdam headquarters to support growing global demand.
EXCLUSIVE: “Payments Re-Engineered” – Nigel Thacker, Silverflow and Victor Padee, Aevi in ‘The Fintech Magazine’
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