Direct Line Group has reached an agreement to acquire InsurTech startup Brolly.
The transaction is conditional and is expected to close during the third quarter. The terms of the acquisition were not disclosed.
The team behind Brolly are expected to join Direct Line, with the aim of helping the group accelerate its transformation to becoming a leading digital player in insurance, by offering products that are personalised, easy to use and available everywhere.
Brolly was founded by Phoebe Hugh, whose vision was to revolutionise insurance by designing products that make buying, managing and claiming an affordable, intuitive and straightforward experience. In August 2019, the firm launched Brolly Contents – a fully-digital contents insurance app for renters and homeowners, offering flexible cover via a monthly subscription.
Hugh said: “We are excited to continue to build beautiful and personalised products to simplify insurance within Direct Line, one of the UK’s most innovative large insurers.”
Kerry Chilvers, marketing director at Direct Line, added: "We know that we can learn a lot from Phoebe and her team and we are looking forward to channelling their excitement and significant expertise to help us with our ambitious plans.”
Latest News
-
HSBC, Standard Chartered back UK-Southeast Asia financial services partnership
-
Paymentology hires new chief revenue officer
-
Macquarie Bank agrees to pay A$10m fine over lack of third-party controls
-
UBS to ‘axe third of staff’ in China private funds business
-
Santander Germany to cut 500 jobs and exit mortgage business
-
BNP Paribas launches Tap to Pay on iPhone
Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.
Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.
Click here to read the 2023 State of the Phish report from Proofpoint.
Click here to read the 2023 State of the Phish report from Proofpoint.
Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.
Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories