Cuvva
Car insurance
- 101-200 employees
- Fintech
- B2C
- Cars
- Insurance
- Customer service
- Farringdon, London, UK
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Company mission
We are making cars multiplayer 🚙 We’re creating truly flexible products that meet people’s real needs. Cuvva is building the future of insurance every day.
-12% employee growth in 12 months
Our take
Before companies like Cuvva, the most recent consumer-facing innovation in insurance was through aggregators such as Moneysupermarket. However, the experience of using these is not great. The industry is known for low levels of customer support, confusing policies and needing to create a new account every time you want a quote.
Brokers and comparison websites add another step to the process, and charge companies they work with ~£70 on each policy sold, which is passed on to the customer in the form of higher policy costs.
Cuvva's focus on customer service is unusual in insurance, but it's providing them a winning edge. They are trying to make insurance more about the experience than simply the price of the policy. It seems to be working so far, as they’ve got a lot of great customer reviews. The challenge will be scaling this support (it’s notoriously hard to scale great customer service when you’re growing fast).
For an industry where brand loyalty is currently near zero (because people go for the cheapest policies) there could be a big opportunity for a company that provides an end-to-end amazing experience and cuts out the middlemen.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Health, wfh and wellbeing budget
- Professional development budget, as well as time off for workshops, studying and courses
- One-to-one sessions with our Sanctus coaches, giving you a safe space to talk about your mental health
- Volunteer day - A chance for us to get out of the office and do some good!
- Doctor Care anywhere, for online appointments, referrals & prescriptions
- 25 days of holiday a year (+ public holidays ) - this increases with each year you're at Cuvva!
- Flexible remote working (with a requirement of 3 days in the office per quarter). London area. WeWork offices in Hoxton.
- £100 a month towards your Cuvva car insurance!
- Cycle to work scheme and salary sacrifice scheme for electric car lease!
- Enhanced parental leave and pay - it doesn’t matter if the Cuvva employee is the primary or secondary caregiver or adoptive parent
Funding (last 2 of 5 rounds)
Nov 2019
$19.4m
SERIES A
Jan 2017
$1.9m
SEED
Total funding: $22.6m
This company has top investors
Leadership
Freddy Macnamara
(CEO)Previously founded a renewable energy consultancy in Scotland.