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About us

At Marshmallow we’re building a new kind of insurance company. One that's built for people who move and live abroad and that is built entirely on a modern tech stack. We are a tech company doing insurance, not the other way around.


Founded in early 2017, our mission is to empower people to move and live in a foreign country. Our first product, car insurance, is launching in 2018. 


Fast facts

Founded..............................................................2017


Office Location...............................................London


Employees.................................................................6


First market............................................................UK


First product.........................................Car insurance


Global market size........................ 244 million people


Global market size..............................£150bn in GWP

What is the problem?


If someone moves to a foreign country they get charged a huge amount more money for insurance and other financial products. There's then all of the problems that exist in the industry: sneaky hidden fees, confusing products, and inefficient tech systems. 


Why are you solving this problem?


Insurance is about enabling people to take risks and up until now the industry has discouraged people to move country. We want to encourage people to move and live abroad and believe that we can do that by supporting people who move country.


How are you solving this problem?


We are using modern data sources that enable us to better understand our customers and a modern tech stack to lower the cost of doing business. We believe that insurance companies built on a digital substrate will have significant long-term advantages over incumbent insurers.


What is your first product?


Car Insurance - this is the product where we found the largest difference in premiums paid by local and foreign-born individuals. If you haven't accumulated your driving experience in the country you are driving in then you can expect to pay between 50% and 100% more than if you had accumulated the experience locally. This is a huge increase and we can use data to reduce it.


What is the size of the market?


There are 8.6 million expats in the UK, 55 million expats in Europe, 244 million expats across the world (UN & ONS source). Every year these people spend around £150 billion on insurance products.


What is your markets growth rate: Between 2015 and 2050 82% of population growth in high income countries is expected to come from net migration (UN source). Brexit in your face :) 

FAQs

Contact us: hello@marshmallow.co

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