Marsh had attempted to block the InsurTech start-up from using the name Marshmallow.
The Intellectual Property Office (IPO) has ruled that Marshmallow, an InsurTech start-up, can continue using the name despite global broker Marsh attempting to stop it.
Insurance Age reported in January this year that Marsh was looking to block the new insurance provider from using the moniker which it argued could be confused with its own in what the start-up branded a David v Goliath battle.
The ruling stated that Marsh, which could be a surname or marshy area of land, was conceptually different to a Marshmallow which is a “soft, sweet food”.
Offset
In the IPO statement, CJ Bowen (for the registrar), noted: “I have absolutely no hesitation concluding that the very different conceptual messages conveyed by the words Marsh and Marshmallow (meanings will which fix themselves in the mind of the average consumer and act as a hook to aid their recall), are more than sufficient to offset the moderate degree of visual and aural similarity between these words.”
“It was the principle,” said Oliver Kent-Braham who founded Marshmallow along with his twin brother Alexander.
“There is a huge amount of InsurTech innovation in the UK at the moment. We believe that this is a good thing for consumers and should be supported not stifled by large incumbents like Marsh.
“Unfortunately, in this instance, a huge global company tried to use their wealth and resources to squash Marshmallow before we’d even started. Fortunately, the IPO office saw sense and ruled in our favour, we are, naturally delighted by the outcome, it’s a sweet victory.”
Kent-Braham said in a statement that the business had tried to resolve the issue with Marsh directly before turning to the IPO.
No appeal
Marsh declined to comment but it is understood that the broker will not be appealing the decision.
It is not the first time a global firm has attacked a start-up over trademarks or branding.
Last year insurer Travelers, which has an umbrella logo, forced start-up broker Brolly to change its logo arguing that the umbrella design was too similar to its own.
Marshmallow, which has gained approval from the Financial Conduct Authority and has insurance veteran and former Zurich chief underwriting officer Tim Holliday on its board, has built a proprietary rating matrix which it hopes will improve car insurance prices for foreign drivers.
For all the latest industry news direct to your inbox, sign up for our daily newsletter.