PriyaPatel
TLDR:
Neat, a French insurtech startup, has raised €50 million with a mix of equity and debt. The startup helps companies sell insurance products to customers by offering embedded insurance products. With a full-stack approach, Neat can create a wide variety of insurance products across different verticals. The company works with distribution partners and insurance companies to cover risks and generate interest.
Key Points:
- Neat, a Paris-based insurtech startup, raises €50 million ($55 million)
- Uses a mix of equity and debt in funding
Article:
French embedded insurance startup Neat has secured €50 million (around $55 million) in funding, with a mixture of equity and debt. The company focuses on offering embedded insurance products to help other companies sell insurance to their customers. Neat works with distribution partners and insurance companies to create a variety of insurance products across different verticals, allowing the company to diversify its risk profile. Neat currently works with 1,500 distribution partners and has sold over 1 million insurance products.
Neat’s full-stack approach enables it to create tailored insurance products without having to rely on legacy systems. By working closely with insurance and reinsurance companies, as well as distribution partners, Neat aligns the interests of policyholders and distributors. This approach allows for a more personalized and varied offering of insurance products, catering to different demographics and needs.
With the recent funding round led by Hedosophia, Neat plans to continue expanding its reach and offerings in the insurance market. The company’s focus on embedded insurance products and full-stack approach has positioned it as a key player in the insurtech sector, with potential for further growth and innovation.
