Cuvva
Car insurance
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Company mission
Cuvva's mission is to make insurance radically better.
Employees
101-200
HQ Location
London, UK
OTTA INSIGHTS
Few candidates hear
back within 2 weeks
-12% employee growth in 12 months
Otta's take on Cuvva
Theo Margolius
COO of Otta
Before companies like Cuvva, the most recent consumer-facing innovation in insurance was through aggregators such as Moneysupermarket. However, the experience of using these is not great. The industry is known for low levels of customer support, confusing policies and needing to create a new account every time you want a quote.
Brokers and comparison websites add another step to the process, and charge companies they work with ~£70 on each policy sold, which is passed on to the customer in the form of higher policy costs.
Cuvva's focus on customer service is unusual in insurance, but it's providing them a winning edge. They are trying to make insurance more about the experience than simply the price of the policy. It seems to be working so far, as they’ve got a lot of great customer reviews. The challenge will be scaling this support (it’s notoriously hard to scale great customer service when you’re growing fast).
For an industry where brand loyalty is currently near zero (because people go for the cheapest policies) there could be a big opportunity for a company that provides an end-to-end amazing experience and cuts out the middlemen.
Total funding - $22.1m
Last 2 fundraises
Jan 2017
$1.9m
SEED
Nov 2019
$18.9m
SERIES A
This company has top investors
Company benefits
- Health, wfh and wellbeing budget
- Professional development budget, as well as time off for workshops, studying and courses
- One-to-one sessions with our Sanctus coaches, giving you a safe space to talk about your mental health
- Volunteer day - A chance for us to get out of the office and do some good!
- Enhanced parental leave and pay - it doesn’t matter if the Cuvva employee is the primary or secondary caregiver or adoptive parent
- Doctor Care anywhere, for online appointments, referrals & prescriptions
- 25 days of holiday a year (+ public holidays ) - this increases with each year you're at Cuvva!
- Flexible remote working (with a requirement of 3 days in the office per quarter). London area. WeWork offices in Hoxton.
- £100 a month towards your Cuvva car insurance!
- Cycle to work scheme and salary sacrifice scheme for electric car lease!
Articles
Founders
Freddy Macnamara
(CEO)Previously founded a renewable energy consultancy in Scotland.
Diversity & Inclusion at Cuvva
- At Cuvva, we’re dedicated to building an environment where individuals from all walks of life feel a sense of belonging and have the support they need to thrive. To us, it’s crucial that our differences are embraced and celebrated - and that you’re able to bring your whole self to work everyday. To ensure that DBI (Diversity, Belonging, and Inclusion) stays at the forefront of not only our minds but of our actions, we hold a bi-weekly session to discuss our DBI initiatives and strategy. It’s an open invite and individuals from across all different departments get involved. In the past year, here’s a few steps we’ve taken towards creating a more inclusive and equitable environment:
- Improving the diversity of our talent pool by partnering with businesses that have the same values and ethics as us, tracking diversity in our recruitment process and making changes to our hiring strategy to help us reach a wider variety of communities
- Hosting speakers and events on a quarterly basis to educate our team and spark conversation on so many important causes; including Pride at Cuvva and Black Lives Matter
- Conducting a BBI survey so we better understand where we are now, and set out key goals for 2022 on how we can improve.
- To find out more about our DBI journey, check out this blog post by our Head of People, Riva Cahn-Thompson: https://www.cuvva.com/cuvva/where-we-are
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