CBA Forays into Insurtech with Pluto


UK Business Angels Association

04 March 2019

The US based Cross Border Angels & Experts (CBA) which is in the midst of building the world’s largest startup ecosystem with its engaging programs for startups, corporates and investors has forayed into the high potential InsurTech industry by onboarding Pluto in its Seed-2-Growth programPluto, a part of the fourth cohort of Sandbox powered by the FCA, is a London-UK based startup that provides travel insurance for people who don’t like insurance.

Pluto targets 70% of insurance seekers that are not satisfied with their current provider and 60% of the travelling millennials that don’t prefer buying travel insurance when they go abroad. Tailored to individual needs & preferences, customers only pay for attributes that they need by building a fully personalized policy in 3 minutes where the pricing is updated in real-time, this is a market first. This ensures that customers understand what they’re buying and to support such a process, Pluto provides all explanations of their cover in plain English. The claim experience is also seamless and is fully mobile optimized with automated handling to expedite payouts. Customers can search & edit their policies which allow them complete control and at the same time mitigate potential risks during their travel experience. Pluto is backed by Zurich Insurance as their underwriter and fully authorized by the FCA being a part of the Regulatory SandboxPluto has also partnered with over 8 brands that are trusted by millennials which include marketplaces, trip providers and communities which would potentially provide access to over 550K customers. Pluto is led by an experienced founding team with Alex Rainey (6 years technology at Accenture Digital), James Birch (Led FinTech programme at EY, launched InsurTech Gateway at Hambro Perks VC) and Harry Williams (Led strategy reviews at Bow & Arrow, led design and research for recent challenger bank launch) and backed by insurance veterans through advisory and investor roles.

“CBA scouts for high potential founders from 40 innovation hubs globally that we can support through our various programs curated for their startups. Our portfolio of program members include fintech startups that have raised over $7M of funding and we had been searching for InsurTech companies that can be included in this portfolio. We’re glad that Pluto‘s growth objectives are aligned with CBA’s strategic approach and we are excited to join them in their journey to disrupt the insurance industry!” said Ashwin Sanzgiri, Vice-President CBA. CBA programs activate various modules which include Growth Capital, Channel Development, Investor Relations, Workforce Acceleration and others based on the needs of the startup and support in building ongoing holistic value while the founders stay focused on building scale. CBA started as a managed angel network focused on cross border co-investments and has evolved into an execution partner through their structured programs for high potential growth businesses/startups across various stages. CBA’s belief that startup failure risks can be mitigated by introducing a benchmark based approach for fundraising and driving channel based sales has allowed them to extend the longevity of their portfolio companies. CBA program member funding rounds & market traction have been covered by international media and some of these publications can also be viewed at

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