Raconteur recently put together a Case Study of Brolly in The Times. You can read the full piece here.
Startup insurer Brolly is launching this year and calls itself a “personal insurance concierge”. It plans to use artificial intelligence and machine-learning to provide a personalised service, offering gadget, travel, home and motor insurance.
According to founder Phoebe Hugh, a former Aviva staffer who became frustrated by the lack of innovation in the industry and set up Brolly with help from the tech venture capitalist Entrepreneur First: “It was categorically not an option to sit around waiting for the existing insurance industry to meet the demands of a rapidly evolving world.”
The company’s first version was launched on the App Store last August. Brolly plans to offer advice, policies and an online “locker” to store documents; it has ambitious plans to be a broker and a comparison website rolled into one.
In one sense it is turning the clock back to the days of brokers, who offered advice based on individual need. Brolly aims to offer “the same level of advice as you get from a broker”, but online, using a range of lifestyle and insurance questions to analyse customer need. It then uses algorithms to locate any gaps in your insurance cover.
It is promising to search the market automatically to find the best deal, but the key is making it easy to find and buy the right insurance rather than necessarily the cheapest. “Brolly is built for the smartphone generation, who expect a fast and frictionless user experience, every time,” it says.
Brolly is an insurance app providing a fresh and personalised experience for the digital generation. We’re addressing the problems with the traditional approach to insurance; overpaying for cover you don’t need, extensive forms requesting details you don’t know, and lengthy policy documentation you don’t quite understand. Brolly’s customers can connect their inboxes and allow our AI to do all the hard work for them. We’ll locate your current insurance documents, compare these with your assets and lifestyle, then provide you with recommendations and more tailored cover which is personal to you. This is all managed straight from your smartphone, so yes, you can finally clear out that filing cabinet. Brolly launched its initial product on iOS in November 2017, and has raised $2 million in funding from renowned investors such as Peter Thiel’s Valar Ventures, Pi Labs, and Entrepreneur First. We’re changing the way that insurance works, so that it works for you. www.heybrolly.com