Leaky
Leaky was a San Francisco-based fintech company specializing in online auto and business insurance comparisons, which ceased operations in 2013.
Company Overview
Leaky is a fintech company based in San Francisco, CA, USA. It specializes in the consumer finance sub-industry, providing a service to compare insurance prices and quality scores for major insurers in the United States. Founded as part of Y Combinator's S11 batch, Leaky targeted consumers looking to save money on auto and business insurance.
Services
Leaky offered a free online service that allowed users to compare auto and business insurance prices and quality scores from major insurers in the US. The company focused on reverse-engineering the pricing models of over 100 insurers to provide accurate and comprehensive auto insurance comparisons, saving users substantial amounts on their insurance costs.
Fintech Sector
Operating within the fintech sector, Leaky specifically targeted the consumer finance market. The company's services aimed to provide consumers with better options and insights when selecting insurance policies. Detailed comparisons and the ability to save on insurance costs were core to Leaky's value proposition.
History
Leaky was founded and became part of Y Combinator's S11 batch. The company operated until August 31, 2013, when it wrapped up operations and became inactive. Despite its brief existence, Leaky had a notable impact, providing over $300 million in auto insurance quotes and saving users over $40 million. Notably, the company received cease-and-desist orders approximately every two months, demonstrating the disruptive nature of its service in the insurance industry.