🎯 Key Takeaway: Meshed’s AI-powered platform reduces insurance quoting time from 1 hour to 9 minutes while helping SMEs save up to 52% on premiums.
Meshed, the UK’s first AI-native insurance broker, has successfully closed an oversubscribed £950K pre-seed funding round to revolutionise how small and medium enterprises (SMEs) access commercial insurance. The Glasgow and London-based startup is tackling a critical market problem: approximately 80% of UK SMEs are significantly underinsured due to outdated brokerage practices.
The SME Insurance Crisis
The commercial insurance market for SMEs has remained largely unchanged for decades, with traditional brokers still relying on manual workflows and outdated systems. This inefficiency creates a perfect storm of problems:
Underinsurance epidemic: 80% of UK SMEs lack adequate coverage
Time-consuming processes: Traditional quoting takes up to 1 hour per request
High costs: Manual operations drive up broker fees and insurance premiums
Poor customer experience: Lengthy paperwork and slow response times
How Meshed’s AI Technology Works
Meshed is rebuilding the entire insurance broking infrastructure to be AI-native from the ground up. The platform employs sophisticated AI agents that handle different aspects of the insurance process:
Voice Agents for Data Collection
AI-powered voice agents conduct initial client interviews and gather necessary business information, eliminating the need for lengthy forms and reducing human error.
Browser Use Agents for Quoting
Automated agents navigate insurer websites and systems to generate quotes across multiple providers simultaneously, comparing coverage options in real-time.
Policy Management Automation
The platform handles policy administration, renewals, and claims support, providing proactive coverage updates as businesses evolve.
We’re pretty much rebuilding the entire insurance broking stack so it’s AI-native, including the underlying data infrastructure, schemas, and integrations. This allows us to let our AI agents loose and ultimately reduce the quoting experience from one hour to nine minutes.
said Vincent Liu, CTO.
Impressive Results and Market Validation
Since launching, Meshed has achieved several significant milestones that demonstrate strong market demand:
52% average savings for early customers on insurance premiums
51 insurer agreements secured across multiple coverage types
FCA regulatory approval as an Appointed Representative
9-minute quoting process compared to industry standard of 1 hour
An early customer, Goodings Accounts, commented: “The feedback from clients has been excellent – not only have they saved money, but they’ve also appreciated the knowledgeable and professional approach of the Meshed team.”
Strong Investor Backing and Industry Support
The £950K funding round was led by prominent UK venture capital fund Haatch, with participation from Aviva via Founders Factory, Exponential Science Foundation, and notable angel investors. This backing provides both capital and strategic industry partnerships.
We always want to be on the leading edge of enabling our customers to protect themselves as much as they possibly need to and can. When it came to Meshed, it was pretty easy for us to get on board.
said Arslan Hannani, Chief Innovation Officer of Aviva.
The whole Meshed team with founders pictured (L–R) Vincent Liu, CTO; Jake Wells, COO; and Mark Costello, CEO.
Meet the Founding Team
Meshed’s success is driven by a team that combines deep insurance industry expertise with cutting-edge technology capabilities:
Mark Costello – CEO
25+ years insurance experience: Former founder-CEO of Taveo, a tech-enabled commercial insurance broker that he scaled to significant premium volumes over four years before exiting in 2024. Previously held senior leadership roles at incumbent brokers.
Jake Wells – COO
8 years insurance, 5 years startups: Led Flock’s Safety Insights product during their Series B raise and scaled Taveo’s product team. Previously grew Ascot’s Excess Liability GWP from $0 to $100M, expanding reach to 10,000 brokers.
Vincent Liu – CTO
Imperial College London graduate: Started at Acturis (UK’s leading insurance software platform), held key tech roles at LandTech, OurCal, and Magic. Most recently launched unlost.ai, gaining 1,000 users in two months.
What’s Next for Meshed
The funding will accelerate Meshed’s growth across several key areas:
Technology scaling: Expanding AI capabilities in predictive analytics and risk management
Team expansion: Hiring additional engineers, data scientists, and insurance experts
Market reach: Expanding coverage to serve more SME sectors across the UK
Product development: Enhanced customer experience and additional insurance products
After nearly 20 years in the industry, I’ve seen just how little has changed. 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.
said Mark Costello, CEO.
Market Impact and Industry Transformation
Meshed’s approach addresses fundamental inefficiencies in the £55+ billion UK commercial insurance market. By automating administrative tasks, the platform allows human brokers to focus on high-value advisory services while dramatically reducing costs for end customers.
The traditional insurance brokerage model is broken. Brokers spend too much time buried in paperwork and chasing information, rather than advising and supporting clients. Our AI agents change this fundamentally.
said Jake Wells, COO.
Learn More: Discover how AI-powered insurance solutions are transforming SME business protection at meshedcover.com
Frequently Asked Questions
What makes Meshed different from traditional insurance brokers?
Meshed uses AI agents to automate quoting, policy management, and administrative tasks, reducing processing time from 1 hour to 9 minutes while cutting costs by up to 52% for customers.
How much can SMEs realistically save with Meshed?
Early customers report savings of up to 52% on their insurance premiums, with the average being significantly lower costs due to reduced administrative overhead and automated processes.
Is Meshed regulated and authorised to sell insurance?
Yes, Meshed has received regulatory authorisation from the UK’s Financial Conduct Authority (FCA) as an Appointed Representative and has secured 51 insurer agency agreements.
What types of business insurance does Meshed offer?
Meshed supports a comprehensive range of commercial insurance including property, liability, professional indemnity, and cyber insurance for SMEs across various industries.
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