Meshed, a Glasgow and London-based insurance technology startup, closed a $1.2 million pre-seed funding round led by Haatch, with participation from Aviva via Founders Factory and Exponential Science Foundation.
The company is deploying AI agents to automate commercial insurance broking, addressing a market where 80% of UK small and medium enterprises are underinsured due to manual processes and outdated systems.
Meshed's platform uses voice agents and browser automation to handle quote generation, insurer communications, and policy administration. The system reduces quote processing time from one hour to nine minutes, according to CEO Mark Costello, who previously scaled insurance broker Taveo before exiting in 2024.
"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."
The platform employs what CTO Vincent Liu calls "agentic bots" that navigate browser interfaces and conduct customer conversations. Liu, an Imperial College London graduate who previously worked at insurance software firm Acturis, said the company is "rebuilding the entire insurance broking stack so it's AI-native."
Voice technology handles customer data collection through natural conversations rather than online forms. "We've had success with many models, but it's an improving product, and we can get voice to interact with the customer much better," Costello said. "We're hyperfocused on making that process as human as possible."
By automating administrative tasks, Meshed reduces commission costs and passes savings to customers. Early clients report up to 52% savings on premiums.
The company has secured UK Financial Conduct Authority authorization and agreements with 51 insurers, covering property, liability, professional indemnity, and cyber insurance.
COO Jake Wells, who previously scaled products at drone insurer Flock and grew Ascot's Excess Liability business from zero to $100 million in gross written premium in one year, said traditional brokers spend too much time on paperwork rather than client advice.
"Across the value chain, there are US companies, but we're seeing a new breed of insurers using AI to scale their back office much quicker, front and back end," Wells said.
Costello sees underwriting as the next area for AI automation. "When you look at agentic AI and voice, it can really streamline the whole process. I think the next barrier can be underwriting."
The startup plans to expand beyond quote automation to predictive analytics and real-time coverage updates. Costello argues that legacy system constraints require a ground-up rebuild rather than incremental improvements.
"You have to own the whole value chain," he said. "We start with what the customer wants and needs, and we work backward. With each iteration, we drive more value – transparency, efficiency, and cost savings."
Arslan Hannani, Aviva's Chief Innovation Officer, said backing Meshed was straightforward given the founding team's experience and the market opportunity.
Meshed will use the funding to expand its engineering team and develop predictive analytics capabilities. The UK commercial insurance market represents billions in annual premiums, with significant inefficiencies that AI automation could address.
