AI InsurTech Meshed gains Aviva and Haatch backing

UK Sees Launch of First AI-Native Insurance Broker

A startup based in Glasgow and London has recently made headlines by introducing itself as the UK's first AI-native insurance broker. This innovative company, called Meshed, has successfully closed an oversubscribed pre-seed funding round, securing £950,000.

Funding and Investors

The funding round attracted significant attention, leading to more investments than initially planned. Notable backers include major players like Aviva and Haatch, which lend credibility and financial support to Meshed's mission. This partnership could pave the way for a unique approach to the insurance broker market.

What Is AI-Native Insurance?

Meshed aims to leverage artificial intelligence to enhance the insurance experience for both businesses and clients. The focus is on streamlining processes, improving risk assessments, and offering personalized coverage solutions. By integrating AI technology into the brokering process, Meshed hopes to set itself apart from traditional models.

Potential Impact on the Market

This innovative approach could have implications for how insurance is sold and managed in the UK. As the market becomes more competitive, we might see other brokers adopting similar technology to remain relevant. If successful, Meshed could influence the future landscape of insurance by making it more customer-centric and efficient.

Conclusion

Overall, Meshed’s launch and funding round indicate a growing interest in technology-driven solutions within the insurance sector. While it remains to be seen how effective their AI-native model will be in practice, the backing from respected investors suggests that there is confidence in their potential.

Original Source: https://businesscloud.co.uk/news/ai-insurtech-meshed-gains-aviva-and-haatch-backing/