Meshed Secures $1.2M to Automate Insurance Broking with AI Agents
Meshed, an insurance technology startup based in Glasgow and London, has raised $1.2 million in a pre-seed funding round led by Haatch, with contributions from Aviva via Founders Factory and the Exponential Science Foundation. The company focuses on automating commercial insurance broking using AI agents to address inefficiencies in the UK market, where 80% of small and medium enterprises remain underinsured due to outdated manual processes.
Cutting Quote Processing Time from One Hour to Nine Minutes
Meshed’s platform combines voice agents with browser automation to manage quote generation, insurer communications, and policy administration. CEO Mark Costello, who previously scaled insurance broker Taveo before exiting in 2024, explains that the system compresses the time it takes to produce insurance quotes from one hour to just nine minutes.
"We take all the manual tasks from people," Costello said. "Voice agents and browser automation eliminate time-sapping tasks in what’s frankly an old-fashioned industry."
AI-Native Insurance Broking
CTO Vincent Liu, an Imperial College London graduate with experience at insurance software firm Acturis, describes Meshed’s technology as "agentic bots" that interact with browser interfaces and conduct customer conversations. The company is reconstructing the entire insurance broking stack to be AI-native, rather than relying on incremental updates to legacy systems.
Voice technology enables natural conversations for customer data collection, replacing traditional online forms. Costello emphasizes their focus on making these interactions as human as possible, improving voice models to better engage customers.
Cost Savings and Market Impact
By automating administrative tasks, Meshed reduces commission costs and passes savings to customers. Early adopters report premium savings of up to 52%. The company has secured authorization from the UK Financial Conduct Authority and holds agreements with 51 insurers, covering property, liability, professional indemnity, and cyber insurance.
COO Jake Wells, who has experience scaling insurance products at Flock and Ascot, points out that traditional brokers spend excessive time on paperwork instead of advising clients. He notes a growing trend where new insurers use AI to scale both front and back-office operations efficiently.
Looking Ahead: Expanding AI Automation in Underwriting
Costello identifies underwriting as the next target for AI-driven automation. The combination of agentic AI and voice technology, he believes, can streamline the entire insurance process further. Meshed plans to expand beyond quote automation into predictive analytics and real-time coverage updates.
"Legacy systems limit innovation," Costello said. "You have to own the whole value chain. We start with what the customer wants and needs, and work backward. Each iteration drives more value — transparency, efficiency, and cost savings."
Backing from Industry Leaders
Arslan Hannani, Aviva’s Chief Innovation Officer, highlights the strong market opportunity and experienced founding team as reasons for their investment in Meshed. The funding will support the expansion of Meshed’s engineering team and the development of predictive analytics capabilities.
The UK commercial insurance market, with billions in annual premiums, faces significant inefficiencies that AI automation like Meshed’s can address, potentially changing how brokers and insurers operate.
Your membership also unlocks:
