·  Peachy plans are flexible and affordable and give easy access to private healthcare without an ongoing commitment from the customer

·      Peachy has raised $1.6m seed capital from former grandees of the insurance industry who recognise the crying need for disruption to the sector and believe Peachy is the solution

London, 26^th September 2022 – New insurtech Peachy’s mission to radically improve financial inclusion in private healthcare has received a $1.6m boost from an impressive list of former executives of the insurance world who believe radical change is necessary and that Peachy is the answer.  Peachy’s innovative new approach uses an end-to-end tech-based solution to provide cover that is flexible and affordable, giving easy access to private healthcare without any ongoing commitment from the customer.     

Built by a highly experienced team of healthcare and insurance industry veterans and technologists, Peachy offers refreshingly simple and uniquely flexible health insurance without annual contracts, excesses or endless forms to fill out to get cover, all via an easy-to-use app. 

Peachy’s arrival heralds a significant and timely step forward for financial inclusion in the UK. It is the first and only health insurtech to be accepted into the FCA ‘Sandbox’, the programme that enables new companies with innovative new propositions to go to market with real customers with the regulator’s approval and guidance.    

As everyone’s healthcare needs are different, Peachy enables each customer to assemble a plan suited to their individual needs, preferences and budget and leaves them free to cancel at any time. 

Peachy customers can use any UK-accredited healthcare provider they choose and everything is easily arranged in a few taps of the app.  You can book and see a virtual GP quickly and easily, learn more about benefits and limits, check cover, make a claim and search and contact healthcare professionals near you, all via the Peachy app.  

Peachy provides a new way for people to avoid lengthy NHS waiting lists and help ease the strain on the NHS system generally.

The startup has been under development for 3 years and is the brainchild and passion of former NHS surgeon, strategy and M&A professional and senior executive at Bupa, Amit Patel.  

Founder and CEO of Peachy, Amit Patel, said, “My former career as a surgeon in the NHS and subsequent time as an executive in and around the private healthcare industry gave me all the experience, insight and exposure to see and know what works and what doesn’t. More than anything it has given me the passion to build a better way to provide access to private healthcare, making it radically more affordable and available to as many people as possible. 

“We are proud of what we have built with Peachy – a true end-to-end technology-based solution that private medical insurance has been in desperate need of for years. More than anything, we are excited about the much larger cross section of the public who will now find it radically easier and more affordable to get the private healthcare they want, all of which will help ease the strain on the NHS.”        

The $1.6m seed round was raised from a long list of impressive names from the insurance world*, reflecting both the strength of Peachy’s radical new approach as the change that is needed and the quality of the business that has been built to deliver it.

Ex-Chief Executive, Axa Global Health, Dr Damien Marmion,  said, “The Peachy team has done a stunning job in delivering a modern integrated digital health solution, a radically better way for health insurance to work for a wider population. Peachy will help reduce the burden on the NHS, broaden engagement in private care and is a refreshing digital solution amongst analogue traditional insurance. Amit and the team have produced something quite special and I am delighted to be investing in their hard work.”          

How Peachy works at a glance:

• Get a quote and buy in seconds, and then manage everything in the app
• See your benefits, benefit limits on the home screen
• Book and have virtual consultations directly through the app
• Check cover before you get care
• Get care by accessing a digital directory of providers – some of which (e.g. Ascenti – the UK’s largest provider of physiotherapy) you can book directly through the app 
• Make claims through video selfie/photo receipt. For hospital treatment, Peachy pays you as soon as you’ve received treatment so you can take care of the bill 
• Pay monthly, with no annual commitment  

Anyone wanting to find out more about Peachy or craft their perfect Peachy plan should visit https://www.peachy.health/

ENDS

Media enquiries –

Martin Campbell on +44(0)7802 634 695 or [email protected]

Notes for Editors

The investors behind Peachy’s recent $1.8 million seed capital raise included (not exhaustive):

Dr Damien Marmion – Ex Chief Executive, Axa Global Health & Former Chief Executive Officer, Bupa Insurance

Stuart Fletcher – Ex Chief Executive Officer, Bupa Group

Riko Scandelious – Ex Operations Director, Bupa Insurance

Sian Fisher – Ex Chief Executive Officer, The Chartered Institute of Insurance

Eva-Maria Barbosa – Partner (Global Insurance M&A), Clyde & Co

Jonathan Ward – Chief Underwriting Officer, Starr Companies

Dr Ali Noorani – President & Chairman, Harley Street Specialist Hospital & Medical Director, Orthopaedic Specialist Group

About Peachy

Peachy was the brainchild of founder and CEO Amit Patel, former NHS surgeon, strategy and M&A professional and senior executive at Bupa. 

Amit’s co-founders are seasoned technologists Darren Bex and Dan Parker,  both with 20+ years experience in enterprise architecture and technology development, most recently at UnderWriteMe.  

Peachy is the trading name of Hlthie Ltd, which is authorised and regulated by the Financial Conduct Authority (firm reference number 967392).

Peachy is the first and only health insurtech business to be accepted into the FCA Sandbox programme.  

Hlthie Ltd is incorporated in England and Wales (company number: 12091384).

Hlthie Ltd’s registered address is 71-75 Shelton Street, Covent Garden, London, England, WC2H 9JQ