Summary

"Insurance Company Profile: Bought By Many", profile offers a review of the company, its business structure and strategy, its financial performance, its marketing and distribution activities, and a SWOT analysis.

Bought By Many was the first broker to focus on social media as its key customer channel. It was founded to create ‘groups’ for people with specific insurance needs and negotiate deals and discounts with established insurers on their behalf. It uses data collected from search engines, social media, and online forums to analyze and identify customer needs that are not addressed by traditional insurance policies. It also provides a platform where consumers can request or suggest a group. Bought By Many registered £20m in premium income for the financial year ended March 31, 2018.

Key questions answered

- What are Bought By Many’s brands?
- What are Bought By Many’s strengths and weaknesses?
- What opportunities and challenges does the company face going forward?

Scope

- In 2017, the company launched its own product range which includes pet insurance (cat and dog) and travel insurance for people with medical conditions who wish to travel to Europe.
- By the end of 2017, the number of members the firm serves in the UK stood at 410,178. In 2017 it helped 7,323 customers to save £57 each, on average, by finding suitable insurance deals for their home, motor, business, and other needs.

Reasons to buy

- Learn about Bought By Many’s organizational structure and its core business segments.
- Gain insight into its underwriting and distribution strategy.
- Understand the group's advertising strategy.

Companies Mentioned
Bought By Many
ExoticDirect
VetsMediCover
Petplan
More Th>n
Lifetime Pet Cover
Yellow Jersey Cycle Insurance
Explorer Travel Insurance
Yourtravelcover.com
Free Spirit
Traveladder
Direct Line
Victor C. Knight
Hencilla Canworth
The AA
Swiftcover
Assetsure
i-Digital
ZugarZnap
AXA PPP healthcare
ActiveQuote
Vitality
PolicyBee
Bikmo
Compare Caravan Insurance
PedalSure
Neos
HomeProtect
John Lewis Home insurance
Policy Expert
Legal & General
Covea