Who are they?

Urban Jungle is a tech-first insurance broker founded in 2016 by two Cambridge University graduates with the aim of utilising technology to help young people get access to home insurance that’s cheaper and more relevant to their needs and lifestyle.

How do they operate?

Urban Jungle bill themselves as a “lean tech company with low costs.”

Having lived in numerous house and flat shares, the founders spotted a gap in the market for insurance specifically targeted at young professionals.

They offer loyalty and referral discounts and the flexible nature of their policies means they can be cancelled or amended free at any time.

Key features include:

  • £50k of cover for policyholders and housemates
  • Cover for damage to landlord’s fixtures and fittings
  • Alternative accommodation to allow for property repairs
  • Phone, bike and digital download cover

The Urban Jungle website has a small number of useful articles – including how to keep your home safe while away, finding the perfect housemate and tips on getting the most out of your contents insurance.

What makes them different?

Everything Urban Jungle does is done with young urban renters in mind. Their USP is their claim that their insurance can be bought in five minutes on a smartphone.

From the way they communicate with customers to their policy features, the emphasis is on making everything easy: no “sneaky T&Cs”, policies written in plain English, no impractical exclusions, and claims resolved in hours not weeks.

Standard policies features include high cover limits, tenants’ liability cover, cover on the move, transparent pricing and complete flexibility for amendments.

They currently only sell a home contents insurance product and don’t currently offer cover for three or more tenants who aren’t family – but apparently they’re aiming to expand the product soon.

What does it mean for the industry?

According to Urban Jungle, only 40% of urban dwelling young professionals get around to buying any form of home insurance.

If they’re right, then targeting this niche bolsters their business model and paves the way for bespoke product expansion. For example, the company is looking at a policy where housemates can split the bill between themselves and change names when flatmates move out. They’ll also look to offer protection for deposits and shared possessions.

We’ll be watching them with interest as their customer-led approach to home insurance grows. Urban Jungle is certainly shaking things up by making insurance appealing to an often ignored audience.