London-based Meshed lands €1.10M to rebuild insurance broking with AI agents

UK’s first AI-native insurance broker closed an oversubscribed funding round from prominent investors to modernise this broken model from scratch.

London-based Meshed, an AI-native insurance broker, announced that it has closed an oversubscribed pre-seed funding round of £950K (approximately €1.10M).

The funding round was backed by UK-based VC funds Haatch, Aviva via Founders Factory and Exponential Science Foundation, along with notable angels.

The UK company will use the funds to scale its technology and expand its team of engineers, data scientists, and insurance experts. Additionally, the company will use the funds to advance its platform’s capabilities in predictive analytics, risk management, and customer experience.

“The traditional insurance brokerage model is broken,” says 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 funding announcement comes as Meshed has been authorised by the UK’s Financial Conduct Authority (FCA) as an Appointed Representative.

The company now has 51 agency agreements with insurers, enabling them to offer various types of commercial insurance, including property, liability, professional indemnity, and cyber insurance.

Early customers have reported savings of up to 52 per cent on their insurance.

Eliminating outdated brokerage practices and inefficiencies

According to the UK company, traditional brokers spend a lot of time on manual paperwork, which means higher commissions but not necessarily better coverage.

Here’s where Meshed, founded by insurance veterans and tech entrepreneurs — Vincent Liu (CTO), Jake Wells (COO) and Mark Costello (CEO), comes into play.

“The traditional insurance brokerage model is broken,” says 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.”

Meshed is an AI-driven insurance brokerage that focuses on assisting small and medium-sized enterprises (SMEs).

The platform includes various agents that enhance the broker experience, such as browser agents for generating quotes and voice agents for collecting data.

As a result, the technology allows brokers to minimise time on repetitive tasks, allowing them to concentrate on fostering client relationships and providing valuable advice.

“We’re pretty much rebuilding the entire insurance broking stack so it’s AI-native, including the underlying data infrastructure, schemas, and integrations,” says Vincent Liu, CTO. “This allows us to let our AI agents loose and ultimately reduce the quoting experience from one hour to nine minutes.”