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Marshmallow was first conceived in 2015 after its three co-founders realised they were sick of the car insurance market . The UK-based company , which became a unicorn in August 2021 following a US $ 100mn fundraising round , provides insurance cover to previously uninsurable drivers , resulting in Marshmallow becoming one of the most successful UK insurtechs in the marketplace . Their mission statement is : “ A person without a credit history needs to drive to work . An unemployed person still needs to buy groceries . An expat without a UK driving licence needs to pick their kids up from school . We use technology to make it possible .”

New York-based online insurance marketplace , Policygenius , was launched in 2014 by co-founders Jennifer Fitzgerald and Francois De Lame . It is now considered America ' s leading online digital insurance portal . The insurtech ’ s mission is to help people get the right insurance by making it easy for them to understand their insurance options , compare quotes , and buy a policy – all in one place . In 2021 , the company raised US $ 100mn in capital from investors and is firmly on its way to unicorn status .

112 May 2022