Freelancers and small to medium enterprises (SMEs) often find themselves navigating complex insurance landscapes that are not tailored to their unique operational needs. Amsterdam-based Insify promises to change that with its AI-driven insurance platform specifically designed for Europe’s entrepreneurs. Recently, it has garnered significant attention by securing €16.3 million in a Series B funding round, promising a strategic expansion and innovation in how business insurance is delivered.
Reflecting on past developments, Insify had previously extended its Series A funds in early 2023, which notably contributed to a surge in its gross written premiums. This growth aligns with its ambitious mission to streamline insurance processes. Industry observations at the time suggested rising demand among freelancers for specialized insurance solutions, thus setting fertile ground for Insify’s approach. The consistent backing by notable investors underscores the increasing trust in Insify’s business model to address gaps in the SME insurance market.
How Does Insify Simplify Insurance?
Insify has effectively built an insurance platform that bypasses traditional complexities, promising faster and more transparent service for SMEs. Entrepreneurs can now obtain insurance quotes within minutes rather than months. Enhanced data analytics and automation enable expedited onboarding with personalized coverage options, minimizing cumbersome paperwork and eradicating protection gaps. The platform adapts to business changes, reflecting growth with regularly updated policies.
What Makes Insify’s Approach Unique?
Traditional insurers often rely on outdated information to provide quotes, whereas Insify utilizes real-time data to assess and price policies accurately. This in-depth data-driven approach ensures SME owners receive coverage reflective of their present needs, rather than generic profiles. Serving businesses in the Netherlands, Germany, and France, Insify remains committed to expanding its footprint across Europe with continual platform enhancements.
Evli Growth Partners led the latest funding round, marking their confidence in Insify’s unique proposition. Miko Kuitunen from Evli expressed,
“We invested in Insify because it fixes a painful gap in SME insurance: fast, personalised and transparent cover without paperwork built solely for entrepreneurs.”
This statement reflects Evli’s alignment with Insify’s vision of providing entrepreneurs with fundamental financial security.
Founder and CEO Koen Thijssen reiterates the mission behind Insify, stating,
“Freelancers and SMEs deserve protection that meets their bespoke needs, not just one-size-fits-all coverage.”
His emphasis reflects Insify’s unwavering focus on creating a supportive and comprehensive insurance solution tailored to economic builders across Europe.
Looking forward, Insify’s continued growth will be critical in influencing how insurance products are conceived in European markets. This tailor-made approach not only addresses the immediate needs of small businesses but also demonstrates adaptability as SMEs evolve. With an expanding presence and scalable solutions, Insify positions itself to set new standards in the business insurance sector.
