Cuvva

Cuvva is a London-based insurance company that sells short-term motor insurance through a mobile app. Customers create an account, enter details about themselves, the vehicle and the trip, and buy a standalone fully comprehensive policy lasting from one hour up to 28 days, with the option to extend cover in the app. Because policies are standalone rather than named-driver additions, the vehicle owner's own policy and no-claims bonus are unaffected.

The product range covers temporary car insurance (including for borrowing a car, test drives, drivers on international licences and bridging cover on a newly bought car), hourly learner driver insurance for provisional licence holders driving with a supervisor (up to three hours per day), and temporary van insurance with carriage-of-own-goods and business class 1 cover. In 2019 the company added flexible single-trip travel insurance, and it has described plans for a pay-monthly car insurance subscription without the additional fees or interest typically attached to monthly motor policies in the UK. The app also includes ancillary features such as MOT and tax reminders and fuel price information, and the company operates car clubs for lending and borrowing cars among groups.

Cuvva states it was the first app to sell temporary car insurance in the UK and the first insurer to sell hourly car insurance policies. As of the company's website it reports more than 16 million policies sold since 2015, over 1.7 million customers, 3.5 million cars insured and 5 million app downloads, with a team of about 100 people.

Founding story

Founder Freddy Macnamara, who had previously run a hospitality business, could not find flexible insurance that would let other people drive his car for short trips, in contrast with the immediacy of ride-hailing and food delivery services. After several years of conversations to persuade underwriters to write motor policies lasting as little as one hour, he and a small team built a car insurance app selling cover by the hour.

Business model

Direct-to-consumer sale of short-duration insurance policies purchased in-app, priced per policy according to the driver's profile and the vehicle; the company connects customers directly with underwriters using technology it builds in-house, removing intermediary layers.

Revenue derives from the sale of individual temporary insurance policies (hourly, daily and weekly car, van and learner cover, plus single-trip travel insurance), with personalised quotes based on driving history and vehicle. Indicative prices paid by 10% of customers start at £12.55 for one hour of car cover, £12.03 for one hour of van cover and £12.95 for one hour of learner cover.

Traction

Company-reported figures include more than 16 million policies sold since 2015, over 1.7 million customers, 3.5 million cars insured, 5 million app downloads, and roughly 6% of UK motor insurance policies sold monthly. Earlier coverage recorded over 12 million policies and 1.5 million customers, and MIB-based share of 4.5% of UK motor policy sales by volume at the end of 2019.

Latest developments

The company reports cumulative totals of 16 million+ policies, 1.7 million+ customers and 5 million+ app downloads, and continues to sell temporary car, van and learner driver insurance alongside Cuvva car clubs for lending and borrowing vehicles. Adam Kent, who joined in 2022, serves as Senior Underwriting Lead and Insurance Expert.