- Seyna, an insurance-tech firm for brokers, simply raised 33 million euros ($37 million).
- The startup gives insurance coverage for pets, lease, and prolonged warranties, and it plans to broaden.
- Take a look at the eight-slide pitch deck Seyna used to boost the contemporary money.
Seyna, an insurance-tech startup that provides white-label insurance coverage merchandise that firms can then promote to shoppers, simply raised 33 million euros ($37 million) in contemporary funds.
The Paris firm, which has been working since 2019, has constructed a “one-stop store” for brokers that permits them to promote insurance policies, handle purchasers, and mix insurance coverage merchandise on a single platform. The platform additionally permits sellers to facilitate declare administration, pace up compliance, and automate funds.
The startup gives insurance coverage for pets, lease, and prolonged warranties, and it plans to broaden this to all property and casualty strains, beginning with medical health insurance.
Seyna makes cash like a conventional insurance coverage firm, as it is a licensed service and carries the premiums provided by brokers. The startup plans to speak in confidence to different insurance coverage suppliers this 12 months, at which level it might look to introduce new income fashions.
“The unique function of insurance coverage, if we actually return to it —it is a means to assist individuals take dangers,” chief government Stephen Leguillon instructed Insider.
“It is fairly thrilling, proper? With out it, many merchandise would by no means have occurred. When you take a step again and also you consider the final time you got insurance coverage, I do not assume you have been pondering of it that means, proper? It was extra of a compulsory buy,” he continued.
Leguillon stated the situation of the trendy insurance coverage market wasn’t a results of anybody’s “evil intentions,” however as a result of it was “extremely laborious to do nicely.”
“Legacy expertise implies that brokers and insurance coverage firms are spending their time on admin, compliance, and guide inputs,” he stated. “If we will carry insurance coverage again to its unique ideas, that might be cool.”
The most recent spherical was coled by digital and deep-tech traders Elaia Companions and New York agency White Star Capital, with participation from World Founders Capital, Allianz, and Financière Saint James. The money injection brings Seyna’s complete funding to 47 million euros ($53 million).
The startup intends to make use of the capital to scale its head rely to 100, with hires throughout its tech, insurance coverage, and gross sales and advertising groups. New options, together with instruments for brokers to make extra gross sales on and offline, are within the pipeline. A giant focus is predicted to be on its claims-management software program to make sure that finish customers and brokers are pleased with the automated system.
Take a look at Seyna’s redacted pitch deck beneath.