Bought By Many is the multi award-winning fintech start-up using social media to disrupt insurance distribution. is the multi award-winning fintech start-up using social media to disrupt insurance distribution.
Bought By Many do this by analysing anonymised internet search data to identify unmet consumer needs for insurance. They use Facebook and other social platforms to connect people who share these needs in groups, and use the group’s collective buying power to negotiate offers on insurance that wouldn’t be available to individuals. Their groups can consist of people who share a pet, a profession, a passion – or anything else. The members-only offers they negotiate are discounts, improved terms on existing insurance products, or brand new policies.
Key company milestones are as follows:
o 2012: Launched boughtbymany.com. Completed seed funding round.
o 2013: Named Insurance Website of the Year.
o 2014: Identified by Boston Consulting Group & Morgan Stanley as the global exemplar of innovation in insurance distribution. Awarded Best Use of Mobile Technology at the Digital Insurance Awards.
o 2015: Surpassed 100,000 members. Launched SaaS platform in China in partnership with Ping An Insurance. Completed Series A funding round. Became directly regulated by the FCA. Acquired Brooks Braithwaite (Sussex) Ltd – the UK’s leading provider of insurance for exotic pets and pet businesses. Named Fintech Innovation of the Year & Insurance Start Up of the Year.
o 2016: Innovation in Insurance Award at the Fintech Innovation Awards. Named in the FinTech 50.
Bought By Many have an exceptional team of 35, based across two sites in Farringdon, Central London and Haywards Heath, Sussex.