Founded in 2021 by Mark Wilson, the former CEO of Aviva, Abacai Group aims to reinvent the insurance industry through the use of advanced AI and data-driven strategies. The company's mission is to provide simpler, fairer, and more accurate insurance products for its customers. Abacai operates both as a direct-to-consumer provider and as a Managing General Agent (MGA). It initially focused on the motor insurance sector, launching its own B2C brand 'Boom'. In 2023, Abacai significantly expanded its portfolio by acquiring SunLife, a leading provider of over-50s life insurance and financial products in the UK, from Phoenix Group.