Fruga

Retention and engagement infrastructure for insurance customers through cashback rewards integration

Customer Engagement Startup Bootstrapped

Overview

Fruga is a customer engagement platform for P&C insurers focused on retention through financial incentives. The company operates at the intersection of insurance and fintech, providing B2B2C infrastructure that enables insurers to offer policyholders cashback rewards on everyday spending, redeemable against insurance renewal costs.

The platform integrates with insurance providers' existing systems and partners with major UK retailers to deliver cashback (3-20%) on qualifying purchases. Built on open banking standards (PSD2 and UK Open Banking), Fruga securely connects to customer bank accounts for passive spending monitoring and automatic cashback attribution. The approach creates a financial switching cost that improves retention while addressing customer affordability concerns without affecting underwriting economics.

Fruga has expanded into the landlord insurance segment through a 2025 partnership with August, a rental management application. The platform serves multiple insurance categories including personal, property, and commercial insurance.

Products & Services

Insurance Retention Platform

Core platform enabling insurers to offer cashback incentive programs to policyholders. Integrates directly with carrier systems to manage enrollment, spending tracking, credit attribution, and policy renewal integration.

Key Features

Open banking integration for bank account connectivity
Automated cashback attribution based on qualifying purchases
Retail partner network management (3-20% cashback rates)
Policy renewal integration with accumulated credit display
Multi-product support (personal, property, landlord insurance)

Target Users: Insurance carriers managing customer retention

Open Banking Integration Layer

Secure, PSD2-compliant API infrastructure connecting to customer banking infrastructure and retail payment networks. Handles data encryption, access control, and continuous compliance monitoring.