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Former Prudential UK boss becomes Bought By Many chair

Former Prudential UK boss becomes Bought By Many chair | Insurance Business

Former Prudential UK boss becomes Bought By Many chair

British pet insurance provider Bought By Many has tapped a major industry name to serve as its chair.

Taking on the chairmanship is Jim Sutcliffe, the former group chief executive of Old Mutual and ex-CEO of Prudential UK who was recently chair at Sun Life Financial. The seasoned executive brings more than three decades of insurance and asset management industry experience to Bought By Many.

“I have watched Bought By Many’s success from the side lines since its launch and have been impressed with its innovative approach to creating one-of-a-kind products and its understanding of customer needs,” noted Sutcliffe. “I was delighted to be approached for the chair position and to join a business which is truly setting a new pace within financial services. I look forward to supporting their continued growth.”

Bought By Many, which entered the UK pet insurance market in 2017, expanded into Sweden last year.

“The last three years have been hugely successful for Bought By Many,” said co-founder and chief executive Steven Mendel. “We have grown our revenue and our customer base, and now cover over 180,000 pets in the UK. Our success has allowed us to expand into new markets and continue to create insurance products which balance improved policy features, market-leading technology, and first-class customer service.

“We will build on this momentum in 2020 and continue to deliver better insurance which works for everyone. Having a board which shares our vision is key to our success and Jim brings a wealth of knowledge and experience within consumer and international markets to help steer us through the next phase of our growth.”