HomeLyfe co-founder Peter Goodman
The insurtech start-up will use the funds to increase its product offering and expand into new markets.
Homelyfe, a start-up which uses tech to make buying and managing insurance easier for consumers, has raised £2.4m in a seed round led by Talis Capital and Peterson Ventures.
The start-up officially launched to consumers in October offering home buyer’s insurance. The company now expects to add multiple general insurance lines over the coming year.
Starting with home insurance in early 2018, its ultimate aim is to allow consumers to manage all of their insurance requirements within one easy-to-use app.
The investment will go towards further technical development as the company pursues this aggressive product roadmap.
It will also go towards building out the Homelyfe team in key areas including customer success and data management as the product expands in functionality, the customer base increases and the company grows.
“At Talis, we believe in combining cutting edge technology with conventional business, and Homelyfe’s modern and consumer-centric approach to insurance fits perfectly with that ideal,” said Vasile Foca, managing partner of Talis Capital.
“Insurtech is an area we continue to monitor closely, especially as it’s a sector experiencing monumental shifts in technology. Peter and his team have built an extremely scalable solution, and we’re delighted to back a company that promises to change the attitudes and experience of the insurance industry.”
Homelyfe was founded by Peter Goodman and Andrew Craven, serial entrepreneurs who have established a number of start-ups, most notably Brighter Option (now Social.com) - the world’s largest Facebook management platform, which was sold to Buddy Media and subsequently Salesforce in 2012.
They launched Homelyfe with the aim of making insurance easier for customers through clever use of technology that makes the process more intuitive, less jargon heavy, and consolidates data to reduce the question sets consumers have to go through to apply for each policy.
Within the Homelyfe app, consumers can do everything from getting quotes and purchasing, to managing and renewing multiple insurance policies and even initiating a claim.
“Our vision for Homelyfe is to build an insurance solution around the needs of the modern consumer,” said CEO and co-founder of Homelyfe, Peter Goodman.
“The insurance industry has seriously fallen down on customer centricity, not interacting with people on the technology they want to use, or with the solutions they expect and not being wholly transparent around pricing.
“Homelyfe is giving the insurance industry a much-needed update; making insurance simpler to help consumers get the right policy, at the right price, 24/7.”