Freedom Services Group, owned and managed by Pukka’s Sam White, has today announced it has acquired home insurance brand, Homelyfe, for an undisclosed sum.
Homelyfe was founded in 2017 when entrepreneur Peter Goodman set out to improve the customer experience of purchasing home insurance. It was built on a proprietary operating system Aventus which last week announced its latest round of investment. Under the terms of the deal, Homelyfe will be sold to Freedom, but will continue to be run on the Aventus Insurance Operating system, which allows it to create policies and automatically quote and bind in under a minute from a minimal question set.
Sam White, CEO of Freedom Services Group and Pukka Insure, has been involved with the development of Homelyfe and Aventus since launch.
This acquisition demonstrates the continued close partnership between the two Insurtech entrepreneurs. The addition of Homelyfe to the Freedom Group portfolio forms part of its strategic ambition to diversify and change the consumer journey in insurance.
The agreement also leaves Peter Goodman free to scale up the Aventus business, which recently secured £2.6m in venture capital investment, and take this best in class insurance operating system to the wider insurance market.
Peter Goodman, serial entrepreneur, co-founder and CEO of Aventus, commented on the acquisition saying: “I started Homelyfe to reinvent the purchase of home insurance. By building our Aventus operating system we have been able to achieve our aim of making the purchase of insurance fair and straightforward for customers.
It’s now time to expand the Aventus customer base, and the sale of Homelyfe to Freedom will allow us to focus on strengthening and expanding the Aventus offering. There are many synergies between Homelyfe and the Freedom Group’s other brands, not least of which the fact that both businesses were formed with a customer-centric vision. Sam is a true visionary in the insurance market, and I have no doubt that in her hands Homelyfe will thrive and continue to deliver on its promises.”
Sam White commented: “Homelyfe is a fantastic addition for our business, allowing us to move into the home insurance space using best of breed, not antiquated, technology. Homelyfe is a tried and tested brand and thanks to Aventus we can demonstrate a seamless buying experience that drives a competitive edge in today’s market. I have long been a supporter of Homelyfe and Aventus, and look forward to strengthening my partnership with Peter as we work to revolutionise the insurance customer journey.”