Urban Jungle Insurance

Urban Jungle is an insurance technology business based in the UK. It offers contents insurance, building insurance and tenant-liability policies. Its products are focused on modern-day, millennial living situations, and as such it offers policies specifically for house and flat sharers, and also has a pay-as-you-go policy.

The company aims to make insurance as simple and affordable as possible. As such, the company has a flat price of £5 a month for its core home contents cover, and quotes take as little as two minutes, with only 5 questions required to answer. Urban Jungle also has a monthly rolling policy with flexible cover options, meaning that updates can be made 24/7.

In 2018 Urban Jungle launched a partnership programme and API to help renters and sharers access their products more easily. The programme allows companies to offer Urban Jungle’s insurance products and leverages technology to ensure they remain compliant without the need for being directly FCA-regulated. The first partner was CreditLadder.

In 2019 Urban Jungle partnered with UK-based challenger bank Monzo to provide cover for Monzo's Home Bundle, which is part of the Monzo Plus Account.

In May 2019 Urban Jungle raised £2.5m in Seed funding from Rob Devey (the former CEO of Prudential UK) and Simon Rogerson (CEO of Octopus Group).

Urban Jungle and Canopy partnered in March 2020 to provide contents insurance for renters from £5/month. Users just need to answer five questions on Canopy's mobile app to get a quote.

In May 2020 Urban Jungle announced they had raised $3.3m in funding from Eke Ventures, amongst others, despite the ongoing global pandemic of Covid-19. At the time of the announcement, the company stated it had reached 20,000 customers.

Urban Jungle made a further funding announcement in September 2020, when it stated it had raised an extra £1.6m, on top of the £2.5m it raised back in March. The company revealed that in spite of lockdown, it now had over 25k customers and was growing at more than 20% per month.

Urban Jungle raised $11.4m in Series A funding in June 2021. The company revealed that, two yeas since first launching its renters insurance, it now serves over 40k customers in the UK.

In May 2022 Urban Jungle received a $23M investment from the owner of IKEA stores. This funding round will be used to help the company to grow and scale outside both in the UK and abroad, and hire 100 new people. Urban Jungle also revealed it is now serving over 100K customers.

In August 2022 Urban Jungle announced it was branching out from home insurance and launching a new car insurance product, claiming to now be the first insurtech business in Britain to become multiline. The new policy will 'offer competitive value to customers amid rising prices'.