Meshed, self-described as the UK’s first AI-native insurance broker, has closed its pre-seed funding round, pulling in £950,000.
Tackling the issue of underinsurance for UK SMEs, Meshed claims existing brokerage practices are outdated, inefficient and overly focused on manual operations.
The group’s AI-powered platform deploys agents to support the broker experience, handling tasks such as quotes, and chasing insurers whilst leaving human brokers free to focus on client relationships and providing high-value advice.
“The traditional insurance brokerage model is broken,” said Jake Wells, co-founder and chief operating officer at Meshed.
“Brokers spend too much time buried in paperwork and chasing information, rather than advising and supporting clients.
“Our AI agents change this fundamentally, handling everything from quote generation to policy management, giving human brokers back the most valuable asset they have – time.”
The investment came from venture capital funds Haatch and Founders Factory, as well as a handful of industry angels.
“After nearly 20 years in the industry, I’ve seen just how little has changed,” said chief executive Mark Costello.
“Insurance is still too reliant on paperwork, underinsurance is far too common, and fees are often higher than they should be. We built Meshed to change that, to bring costs down for SMEs, give them the right protection and make the whole process faster, simpler, and more transparent.”
The round follows the company receiving regulatory authorisation from the Financial Conduct Authority (FCA) as an appointed representative.