How Mylo uses data-driven technology to change insurance
Founded in 2015, the digital insurance shopping platform, Mylo, connects business owners and individuals with top-rated insurance products from multiple carriers, including business, small group benefits, home, auto, life and individual health.
The company is an independent broker, meaning it does not sell its own insurance. Instead, it finds the right policy at the best price from multiple A-rated carrier partners. A-rated means they rank at the top of the industry in their financial strength and ability to pay claims.
Backed by the world’s largest independent broker Lockton and global investor Guggenheim Partners, Mylo draws on 50+ years of Lockton insurance expertise to offer insurance recommendations online or in-person with licensed agents.
Using technology to deliver recommendations
The cloud-based Mind of Mylo technology delivers coverage recommendations, matches needs with carrier appetites, then quotes policies with the best value.
Mylo has recently been named “Best InsurTech Company” in the sixth annual FinTech Breakthrough Awards programme conducted by FinTech Breakthrough, an independent market intelligence organisation.
In 2021, Mylo was the winner of FinTech Breakthrough’s “InsurTech Innovation Award.”
“We’re honoured to receive our second prestigious award from FinTech Breakthrough,” said David Embry, Mylo CEO. “It’s important recognition for the technology platform we created to give small business owners and individuals an easy way to get expert advice and highly personalised solutions.”
Providing customers with insurance
Mylo was selected from among 3,950 nominations around the globe. The FinTech Breakthrough Awards programme was founded to recognise the FinTech innovators, leaders and visionaries across the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and more.
“Many insurtechs focus on just one specific product or offer the technology but not the deep insurance expertise,” said James Johnson, Managing Director, FinTech Breakthrough. “Mylo is revolutionising the space with their breadth of coverage and breakthrough technology, providing the best of both worlds. Congratulations to the entire Mylo team on being our choice for ‘Best InsurTech Company’ for 2022.”
