Stories: All you need to get insured in just 7 seconds from EIC-funded Neosurance
The Italian start-up is providing insurance companies and digital communities with a platform that helps profiling and to engage their customers. The EIC solution offers relevant insurance through push notifications, delivering an ‘instant’ 7-second insurance policy sign-up. In this platform, zero paperwork is required to ensure a better experience for users. This year Neosurance closed a €1.1 million funding round, backed by Net Insurance, Luiss Alumni 4 Growth and a group of investors led by Mezzetti Advisory Group.
Founded in 2016, Neosurance is specialised in instant insurance. The company has developed an innovative solution based on Machine Learning and Digital Customer Experience, capable of collecting and processing context-related data with a self-learning approach. Insurance companies and communities can use Neosurance APIs to offer the best fitting insurance policy, when and where it’s needed. A personalized push notification on the smartphone enables the purchase of specific coverage with a few taps and at an affordable price.
In April, the company raised €1.1 million from new investors, and now has a pre-money valuation of €10 million.
“The trust that such prestigious members have given us is a significant milestone in the history of Neosurance. With this operation, the foundations have been laid to attract new capital from institutional investors, and I’m sure we will give even more force to the exciting projects that the company is carrying out”, said Andrea Silvello, President of Neosurance.
On top of having pioneered and becoming the global leader in the so-called “instant insurance”, Neosurance has recently expanded its solutions to offer innovative pay-per-use and long-term insurance, also through other insurance intermediaries.
“I am very happy to welcome these new partners. They will actively contribute with their experience and vast network to boost the recognition that Neosurance has been gaining both in Italy and internationally”, added Dario Melpignano, Board member of Neosurance.
Neosurance received many prestigious awards in the insurance domain, including the Aviva Digital On Award (Sep 2016), the Best Italian Insurance Startup at the MF Insurance Awards 2017 (Apr 2017), Best Insurance Game-changer award, by Munich Re Digital Partners (Sept 2017) and Ambrosetti Best startups Fintech/ Insurtech in Italy (Apr 2018).
In 2017, the Italian project received Phase 1 grant from the European Innovation Council to develop a feasibility study.