CEO and Founder, Cuvva
Spotting a space in the crowded insurance market, Freddy Macnamara set up Cuvva, the first pay-as-you-go car insurance company in 2016. The business offers cover for as little as one hour through its mobile app.
Matching smartphone technology with data-sharing capabilities, Freddy has disrupted the insurance sector in the same way fintech start-ups are taking on established banks. Since its launch, Cuvva has now sold over 20 million of hours of car insurance policies, adding van insurance, short-term taxi and private hire insurance.
The journey has not been easy. Freddy has worked hard to convince investors to take a chance on the new model – resulting in a number of successful partnerships with underwriters, over 500,000 downloads and over 300% year on year growth for the last three years.
In 2017, Forbes included him in its 30 Under 30 ranking for Retail & Ecommerce, which recognises people reinventing how we shop, online and offline.
His advice to budding entrepreneurs is to learn from early setbacks so you don’t repeat them.