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Insurance Company Profile: Bought By Many

Insurance Company Profile: Bought By Many

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.


Operations
Bought By Many : A Global Overview
Historic Milestones
What does Bought By Many do today?
Bought By Many Product Overview
Strategy
Partnerships
Advertising Expenditure
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
Appendix

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