Photo: INZMO founders Meeri and Risto
INZMO the Berlin headquartered insurtech transforming the laborious insurance process has closed a €3.1 million seed round led by EstVCA member Change Ventures
. Swiss Insurance giant Helvetia who invested a single digital million amount in INZMO’s pre-seed round also participated and has increased its investment with this fundraise. The round brings the total amount raised by the company to €5.2 million.
INZMO’s mission is to eliminate the pain of the insurance process by offering a full-stack solution where everything from buying a policy to making a claim can be done in an instant. With its end-to-end solution, the startup is making the process simpler, quicker and more transparent.
According to the founders, traditional insurers are failing to appeal to the digital generation of customers who expect to manage their insurance needs in the same way they do their day to day lives – via their smartphones. Unlike the cumbersome services of traditional insurance providers that take weeks if not months to process a single insurance claim, INZMO’s full-stack automated solution means the claims process can be executed within the mobile app in a matter of hours – all without the customer even having to contact their insurance company.
What sets INZMO apart from the competition is its technology, which enables it to partner with a range of B2B and B2C channels. And through partnering with retailers and ecommerce channels, the company provides a seamless one-stop-shop where insurance products can be sold and serviced, claims managed, and all other processes executed.
“INZMO has already established a strong reputation in the insurtech space. It has built up a considerable client base for its bike and electronics insurance products and secured a number of impressive partnerships. With its full-stack tech and service platform already in place, we’re confident INZMO has what it takes to scale across new markets and industries, and become a leader in the rising insurtech sector,” Rait Ojasaar, Investment Partner at Change Ventures, says.
- Read more on the investment HERE