08 November 2023

Monzo plans insurance push with Brolly founder

Written By FinTech Alliance in Insurance

Monzo plans insurance push with Brolly founder

A recent hire at Monzo has seemingly tipped off that the digital bank is planning a far greater expansion into the insurance market.

In brief:

-Currently, Monzo offers phone and travel insurance with its Premium tier subscription at £15 a month, but these are simply off-the-shelf insurance products from Assurant and Zurich respectively.

-Phoebe Chibuzo Hugh, the founder of insurance startup Brolly which was acquired by Direct Line in 2020, posted on LinkedIn that she would be joining the challenger bank for an “ambitious mission” in the insurance space.

-When the startup was acquired by Direct Line Hugh first became head of product innovation and later venture CEO.

What does this mean?

Hugh’s recruitment suggests Monzo has far greater ambitions, with the executive teasing “Monzo has revolutionised banking, savings, lending, investments, and soon, we’ll bring this to insurance.”

Read more here.

Up Next ...
04 November 2024

Finance apps are in ‘need of improvement’, says a quarter of Brits

A recent survey by UK mobile specialists Apadmi reveals that ...

04 November 2024

Barclays acquires Tesco Bank

Barclays Bank UK PLC has completed the acquisition of Tesco ...

04 November 2024

fundcraft Increases Series A to €11 Million Demonstrating Strong Product-Market Fit

fundcraft has increased its Series A funding to €11 million, ...

01 November 2024

Mollie and Hyvä announce strategic partnership, launching Hyvä Commerce

Mollie, a leading financial service provider, has partnered with Hyvä, ...

More in Insurance

Posted By The Community

Is the Insurance Industry Finally Embracing a Data-Driven, Customer-Focused Future?

18 March 2024

The insurance sector has been relatively slow to adopt the ...

Written By: Epam Systems

Posted By The Community

Preparing for the EU AI Act: compliance and insurance guidance for AI providers and deployers

22 January 2024

The EU’s AI Act is set to introduce new responsibilities for businesses that develop and deploy artificial intelligence (AI) systems. Below, we have outlined some of th...

Written By: Lockton

Insurance in the FinTech industry

23 November 2023

We sat down with Nick Rugg, Head of FinTech Insurance ...

Posted By The Community

Why fixing the broken rung is employers' next big challenge

26 October 2023

With many areas of financial services still male-dominated, it’s important for employers to consider...

Written By: Lockton

Articles Insurance

Digital Modernization in the Insurance Industry

20 March 2024

The insurance industry is conservative and prudent, and the technology investments from decades gone...

Articles Insurance

2024 global insurance outlook

02 October 2023

Key messagesEscalating frequency and severity of global risks—from climate change to cybercrime—is i...

Thought Leadership Insurance

What Does the Digital Landscape Look Like for Insurance?

08 December 2020

Emerging Digital Trends in Insurance “The world as we know it today wouldn’t work ver...

Articles Insurance

2020 insurance outlook Insurers adapt to grow in a volatile economy

13 May 2020

As insurance firms adapt to maturing markets and economic turbulence, in the long run, their ability...

There are no Events in this category