Urban Jungle is a London-based startup founded in 2016, at the hub of the European Insurtech, and has just announced a new investment of more than 2 million Pound. Its name already reminds us of its reference market, the millennials, more and more focused on renting (traditional or through sharing platforms) and more sensitive to digital channels even when it comes to insurance purchase.
Urban Jungle offers a range of insurance policies for tenants, which covers not only the property, but also everything inside, products designed specifically for those who share apartments or houses or personal items.
The company’s commitment is to make it easier to purchase the policy, online only, but also to claim any compensation.
Jimmy Williams, Urban Jungle co-founder, told Techcrunch: “We’re fixing insurance on the house, as there’s plenty of trouble to work on. Among the many different personal insurances, this one is still the most purchased and managed offline, mainly through real estate agents, banks and mortgage brokers. The prices are high, the conditions are demanding and the fees are for everything”.
Williams says his company can streamline the process, and make it cheaper to buy the policy. “The technology made it possible. We automate the vast majority of processes to make things super fast and keep our costs very low. The data are smartly used to customize the coverage and make prices fairer.
Urban Jungle has more than 15,000 customers and reports a growth rate of over 30% per month. It has collected overall funding for 3.7 million pounds to date.
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