We're delighted to announce that Urban Jungle has been selected as the only insurtech to join the FCA's Scale-up Unit. It's a milestone that reflects our commitment to building insurance the right way, and means we can continue to scale sustainably, and at pace. 

Jimmy Williams, Urban Jungle Co-Founder and CEO said:

"Being selected as the first insurtech for the FCA's Scale-Up Unit is a fantastic milestone for Urban Jungle. We've always believed that engaging directly with regulators is key to building sustainably, and in a way that truly puts customers first. Access to the FCA's expertise will help us accelerate our growth, continue innovating our technology, and bring fairer, more accessible insurance to more people across the UK. 

It's great to have a regulator in the UK who is building schemes like this to help support innovation and high growth firms - joining the Scale-Up Unit feels like a natural next step for us as we scale."

What is the FCA Scale-up Unit?

The Scale-Up unit is a tailored regulatory support programme designed to help ambitious, fast-growing firms innovate and navigate regulation as they scale. It was launched to support companies that are developing new products, managing rapid growth, and responding to policy changes - with dedicated guidance from the FCA.

We're one of five firms to join the Unit's first solo-regulated cohort, alongside ClearScore, Modulr, Teya, and Zilch. 

What does growth at Urban Jungle look like?

Over the past few years, we've expanded our range of insurance products from home insurance to include travel and non-standard cover. We've also built partnerships with household names like IKEA and Co-Op, meaning even more people can access affordable and accessible insurance.

All of this is underpinned by the latest technology, like our use of AI to tackle fraud actively spotting misrepresentation or dishonest behaviour and keeping premiums low for honest customers. Being part of the FCA Scale-Up Unit will allow us to continue to drive innovation whilst also making sure we are building sustainably, so more UK households can get access to fair, transparent insurance. 

Why the FCA created this

The FCA launched the Scale-up Unit because high-growth firms play a vital role in driving economic growth across the UK. 

Jessica Rusu, chief data information and innovation officer at the FCA, put it simply: "We want the UK to remain one of the best places in the world to start, grow and scale a financial services business."

We’re very proud to be the first insurtech in the Scale-Up Unit, and to work closer with the FCA for the next stage of our growth.