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{"id":34724,"date":"2023-06-08T22:16:09","date_gmt":"2023-06-08T22:16:09","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/06\/08\/insify-raises-another-10-7-million-for-its-business-insurance-startup\/"},"modified":"2023-06-08T22:16:10","modified_gmt":"2023-06-08T22:16:10","slug":"insify-raises-another-10-7-million-for-its-business-insurance-startup","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/06\/08\/insify-raises-another-10-7-million-for-its-business-insurance-startup\/","title":{"rendered":"Insify raises another $10.7 million for its business insurance startup"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/07\/insify-raises-another-107-million-for-its-business-insurance-startup\/<\/a><\/br>
\nInsify raises another $10.7 million for its business insurance startup<\/br>
\n2023-06-08 22:16:09<\/br><\/p>\n

\n

Amsterdam-based insurtech startup Insify<\/a> has completed its Series A funding round with another \u20ac10 million ($10.7 million at today\u2019s exchange rate). Overall, the startup has raised \u20ac25 million as part of its Series A round ($26.7 million).<\/p>\n

Munich Re Ventures, the venture capital division of the large reinsurance company, is leading the extension round. Insify has already been working with Munich Re for its insurance products. Existing investors Accel, Frontline Ventures and Berlin\u2019s Visionaries Club are investing in the extension. There are some new investors as well, namely Formula 1 World Champion Nico Rosberg and Opera Tech Ventures.<\/p>\n

As a reminder, Insify addresses the long tail of the business insurance market. While big companies usually have plenty of options when it comes to insurance products, if you\u2019re a freelancer or a small company with a handful of employees, the current experience isn\u2019t great.<\/p>\n

Small and medium companies are most often underinsured or don\u2019t have any insurance at all. And yet, many businesses could benefit from a professional or corporate liability insurance, or should get some form of coverage in the rare case that they are no longer able to work.<\/p>\n

\u201cAs an entrepreneur myself, I have experienced first-hand how SMEs are underserved when it comes to business insurance, with many legacy providers failing to offer a digital-friendly, streamlined and competitive offering \u2013 meaning that many businesses simply go without cover,\u201d founder and CEO Koen Thijssen said in a statement. \u201cOur rapid growth since our previous funding round in 2022 shows the desire and need for better insurance solutions from freelancers and SMEs across the continent.\u201d<\/p>\n

With Insify, small companies can get a quote directly from the company\u2019s website. In addition to the online form, the company uses advanced analytics to get some additional information about a potential customer. Essentially, Insify wants to lower the customer cost acquisition so that this segment of the market can make sense.<\/p>\n

Since my last post on the company in February 2022<\/a>, the company has grown from 1,500 to 10,000 clients. In addition to the Netherlands, the startup\u2019s insurance products are now also available in France and Germany.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:
https:\/\/techcrunch.com\/2023\/06\/07\/insify-raises-another-107-million-for-its-business-insurance-startup\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/07\/insify-raises-another-107-million-for-its-business-insurance-startup\/ Insify raises another $10.7 million for its business insurance startup 2023-06-08 22:16:09 Amsterdam-based insurtech startup Insify has completed its Series A funding round with another \u20ac10 million ($10.7 million at today\u2019s exchange rate). Overall, the startup has raised \u20ac25 million as part of its Series A round ($26.7 million). Munich Re Ventures, the venture […]<\/p>\n","protected":false},"author":1,"featured_media":34725,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-34724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nInsify raises another $10.7 million for its business insurance startup - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/06\/08\/insify-raises-another-10-7-million-for-its-business-insurance-startup\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insify raises another $10.7 million for its business insurance startup - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/06\/07\/insify-raises-another-107-million-for-its-business-insurance-startup\/ Insify raises another $10.7 million for its business insurance startup 2023-06-08 22:16:09 Amsterdam-based insurtech startup Insify has completed its Series A funding round with another \u20ac10 million ($10.7 million at today\u2019s exchange rate). 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