Inshur has been active in the New York ride-share market for nearly a year and now, with the assistance of Davies Insurance Services, has launched in the UK having gained regulatory approval.

The commercial auto insurance InsurTech start-up allows for taxi drivers to buy and manage insurance on their mobile phones – cutting out brokers.

The start-up, which wrote $24mn of gross premium in its first 10 months after launch, has also secured a $2mn credit facility, as well as $7mn in series A funding in an investment round led by Munich Re Digital Partners Ltd.

Insur CEO Dan Bratshpis commented: “Our first institutional round of funding will allow us to expand further into new territories and insurance verticals within the US AND EU”.

In the UK, Inshur is licensed by the Financial Conduct Authority as an appointed representative of Ambant Underwriting Services.