Goodfairy Insurance
Organization Details
Goodfairy Insurance is a pioneering digital platform that enables users to insure their vehicles while supporting a selected non-profit organization at no additional cost. With each new policy and renewal, Goodfairy donates on behalf of the user, funding the contribution by allocating 50% of the commission earned from partner insurance companies.
As the first social enterprise in the global insurance market, Goodfairy strives to become a key source of recurring revenue for organizations in the social economy.
Impact Story
Consumers are increasingly concerned about the ethical and environmental implications of their purchases, yet, not all sectors offer responsible shopping options and when they do, it’s usually at a premium price, which hinders their ability to align their values with their purchasing decisions and make a significant impact.
Our solution is to transform an essential fixed living cost, to a purpose driven product, all without shouldering additional financial weight. In the soft launch phase, without any advertising costs, we have onboarded 51 nonprofits, made 219 donations amounting to €4.4614 and gained 27 brand ambassadors. Notably, 46% of these funds have been allocated to environmental nonprofit organizations.
