London based insurance advisory startup Brolly has raised £1m in Series Seed funding led by Valar Ventures. Brolly is an online and mobile application that offers insurance advisory services to its users.
“One woman I spoke to had inadvertently purchased two car insurance policies when she obviously only needed one (you can’t claim twice on general insurance),” recalls Hugh. “She had paid in excess of £10,000 cumulatively over 11 years for two policies where one should’ve been void, because there was no system in place that notified she was doubling up on cover”. Aware of no other businesses in insurance at the time that seemed to be tackling the problem, and convinced from her experience in the industry that insurance companies would be slow to change, Hugh says she taught herself coding and undertook a hackathon where she built an early iteration of what would later be known as Brolly. “I was really compelled to leave and set up a venture that directly challenged these issues,” she says.