Why we started Marshmallow

In the year 2000 there were 170 million people living outside of the country they were born in. Fast forward to today and there are 258 million.

An increase of 50% in just 18 years.

In Europe the population would have declined without migration and in North America 42% of population growth was due to foreign-born people.

It's tremendous growth that eclipses fast growing nations such as Indonesia, India and Pakistan. In fact, if people living outside of their country of birth formed a country it would have the fastest growing population outside of Africa.

This is amazing news. Both for people who are striving for opportunity, and for the lucky countries that serve as destinations for the ambitious, the smart and the daring.

We believe in increased global movement, and in an ever connected future.

But we also believe that to truly make the most out of the many amazing people moving country we have to enable them, we have to believe in them and we have to understand them.

Unfortunately for foreign-born people financial services companies often don’t do any of the above.

Nowhere is this more clear than in insurance. Where the average quote for somebody buying car insurance who was born here is £584, and the average quote if you weren’t…£884.

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We don't believe that foreign born drivers are 51% more risky on the road than British born people.

We believe that insurers find foreigners 51% harder to understand

Marshmallow is a purpose-driven, legacy free, technology first insurer set up to improve the financial health of people living in a foreign country.

By using new technology, global data, and a proprietary rating matrix - that eliminates underwriting bias - we are giving foreign-born driver's the keys to an even playing field and our goal is to put £100m back in the hands of these drivers.

We hope we can do our bit to make the world more global, and more accessible.

Stay tuned.