The firm behind Singaporean insurance wallet PolicyPal has received two legal notices from US-based insurer
Travelers over its logo. Both companies’ logos feature umbrellas, but in different colours and designs.
The Singaporean start-up said that it will give in to Travelers demands, as it does not have the resources to fight what could be a long legal battle with the American insurance giant.
“We asked advice from our lawyers, and also our mentors and even though we wish we could keep the logo, we will have to change it,” Val Jishuan Yap, PolicyPal’s founder and CEO, told e27.
“It is a waste because we spent time to build brand awareness and people recognise us and now we have to change it…We are quite tired on our end but we don’t have the resources to actually fight with a big insurance company,” she added.
Travelers is one of the largest American insurers, with history stretching back to the 1800s. It is extremely protective over its logo that has been in use since 1960, having engaged other firms, such as British tech start-up Brolly, British insurer Legal & General, and Alaskan firm HR Umbrella in legal battles over umbrella-like designs in their logos.
As for PolicyPal, it will hold a crowdsourcing competition to come up with its next logo. The winner will receive SGD200 (US$146) in Grab credits.
“We want to get the public to submit the logo to us, and bring the power back to the users,” Yap said.
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