Cuvva claims to have sold over a million policies and says it's the most downloaded insurance app in UK.
Cuvva, the UK-based insurance startup, has appointed Lloyd's of London Chairman Bruce Carnegie-Brown (pictured) as its new Chairman.
Carnegie-Brown replaces Nick Parker, who served in the role since the company's inception.
Cuvva sells car insurance for various time periods via an app.
Carnegie-Brown said: "I’m excited to be joining Cuvva at a time when the insurance disrupter is enjoying rapid growth as it builds out a customer-centric app-based platform, delivering tailored solutions for customers’ personal insurance needs and aiming to become the button on your phone for your insurance.”
Cuvva was founded in 2014 by James Billingham and Freddy Macnamara to serve customers who only required insurance for a limited time period. It also offers travel insurance.
According to the FT, Cuvva has 250,000 customers and has sold 40m hours' worth of insurance.
Cuvva claims to have sold over a million policies and says it's the most downloaded insurance tech app in the UK.
In future, Cuvva plans to offer longer-term insurance and look to win market share by offering it without traditional charges, like cancellation fees.
Macnamara said “We’re delighted to welcome Bruce to chair our board. His unrivalled experience and industry knowledge will ensure we’re best placed to deliver our mission to help people live life on their terms.
“We’d like to thank Nick for his tireless contribution and commitment to Cuvva, playing a critical role in the company’s growth over the last four years.”
The appointment of Carnegie-Brown is the latest in a number of appointments at Cuvva, including a new Finance Director and Director of Partnerships.
Carnegie-Brown has a pedigree of working in insurance and has previously worked at Aon and JLT.