Pioneering social media-orchestrated UK insurance provider, www.boughtbymany.com has added to its existing product portfolio by acquiring the full complement of shares in dedicated pet insurance broker, Brooks Braithwaite.
The forward-thinking digital media-savvy insurer has breathed renewed energy into what’s sometimes considered something of a conservative industry in many aspects, but to date hasn’t been in a position to proffer pet insurance policies on this more expansive scale.
Having shaken up the industry by way of affording policyholders more niche insurance products (largely benefitting from unprecedented social media exposure) than have otherwise been available elsewhere to date, Bought by Many acknowledged that until they arrived on the scene a few years ago the sector had only lived through two major transitional periods.
That being the advent of individual companies rather than the hitherto sole reliance on brokers, along with the more recently observed and rapid emergence of insurance price comparison websites.
Facilitating its established technology platforms to create defined and easy to negotiate online quote-and-buy processes, Bought by Many will adapt this tried and tested approach for its newly-acquired pet insurance venture, according to www.insuranceage.co.uk.
Previously described as an industry agitator in terms of its unique spearheading of tech and social media-reliant calls to arms, Bought by Many’s comprehensive purchase of shares Brooks Braithwaite’s Exotic Direct business has been rubber-stamped by the Financial Conduct Authority, and now gives them access all areas to a respected pet insurer renowned for its bespoke birds, mammals and reptiles policy underwriting. Alongside of this, the broker is responsible for Petplan Sanctuary, which caters for professional dog walking, pet sitting and animal boarding businesses here in the UK.
Social Media Master Manipulators, Bought by Many Completes Complete Share Buy-out of Dedicated Pet Insurance Company
Speaking of its most recent asset-obtaining, Bought by Many’s CEO and co-founder, Steven Mendel had this to say about the deal. Mendel; “I am thrilled to announce this acquisition, which marks an important step in our journey to dramatically improve the insurance experience of our members.”
It’s understood that the vanguard-riding insurer aims to create an industry-leading, mobile-enabled online quote-and-buy process to serve the pet insurance markets, while championing the both Exotic Direct and Petplan Sanctuary via targeted Facebook, Twitter and Instagram marketing campaigns.
Mendel went on to explain how; “By combining the deep product, pricing and administration expertise of Brooks Braithwaite with Bought By Many’s groundbreaking social media distribution capability, we will create the next-generation insurance intermediary.” Revealing his thoughts on the share buy-out, Brooks Braithwaite’s chairman and founder, Nigel Hucknall said; “Since I founded Brooks Braithwaite in 1979, it has grown to serve over 15,000 UK businesses and pet owners.” He went on to add; “Bought By Many has a bold vision for the future of insurance, and I am delighted to see Brooks Braithwaite become an integral part of that.”