Wopta Assicurazioni, an insurtech MGA focused on protecting businesses and professionals from everyday risks, has closed a €4.1 mn Series A funding round https://lnkd.in/dsfheY2U
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Creating a cool insurance product is a bit like putting together a playlist – it takes some strategy! 🚴♂️🎶 Our new carousel breaks down the steps of making a pricing matrix for bike theft insurance. From understanding what people want to setting the perfect price, it's like a guide for insurance superheroes. Check it out for a behind-the-scenes look at how actuaries turn ideas into real insurance goodies! 🌟💼 #InsuranceInnovation #ActuarialExcellence #PricingMatrix Jeremy Keating InsurTech NY Insurtech UK Global InsurTech Summit Insurtech France India Insurtech Association Plug and Play Insurtech Italian Insurtech Association - IIA Community of Insurance InsurteChile Insurtech Labs Latam The Digital Insurer
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Italian insurtech Wopta Assicurazioni secures €4.1 million in Series A funding #Wopta Assicurazioni, an #InsurTech MGA dedicated to protecting businesses and professionals from everyday risks, has successfully closed a €4.1m Series A funding round. This latest raise brings Wopta’s total funding to approximately €8m since its inception, as reported by InsurTech Insights. The Series A round included contributions from a club deal named “Asset Plus srl,” comprising over 30 Italian families and business angels. Notable participants included Holding B3 (Calzedonia Group), the Macchi family, the Cammi family, Ettore Riello, Davide Parenti, Massimo Ambrosini, and Cristina Parodi. Existing investors such as CNA – Confederazione Nazionale Artigiani, Key Capital Venture, CORDIFIN S.P.A., and Carlo Fagioli also participated. The newly acquired funds will be utilized to expand Wopta’s product range, extend its distribution network, and introduce new personal lines solutions, including car insurance. Additionally, Wopta aims to grow its presence through targeted acquisitions in the Italian and European insurance markets. Wopta's impressive financial performance in 2023 showcased a threefold increase from the previous year. The company reported over €3m in intermediated premiums, €1.4m in total revenue, and a clientele of 180,000, highlighting the effectiveness of its business model. Vincenzo Macaione, founder and CEO of Wopta Assicurazioni, commented, “2024 marks a significant milestone for us, thanks to the trust of major Italian investors who have joined our capital. This confirms our commitment and value in the insurance market. Our phygital business model, adopted from the start, has been successful and recognized by both new shareholders and our over 180,000 clients. The article on FinTech Global in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA - Substack: https://lnkd.in/dzfGJzmW
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Navigating insurance distribution through strategic partnerships 🧭 Quentin Colmant, our CEO and Co-founder took the stage last month at Insurtech Insights for the panel ‘Leveraging partnerships in distribution’, hosted by Lisa Wardlaw (360 Digital Immersion ), alongside industry experts Masashi Namatame (Tokio Marine Group), Dan Bratshpis (INSHUR) and Domingos Bruges (Habit). Together, they explored how partnerships between traditional insurers and insurtechs can level up embedded insurance distribution to meet consumer demands, decrease costs and better care for end customers. So if you’re wondering whether risk carriers and insurtechs are friends, enemies or something in between, Quentin makes the case for why we’re better together 🤝 See what he has to say below or read the blog post for the full panel recap 👉 https://qovr.me/4aXMjKq #ITIEU2024 #InsurtechInsights #EmbeddedInsurance #Insurance #Insurtech #EmbeddedInsuranceOrchestration #SuccessEnsured
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Marshmallow, a digital motor insurance start-up, just raised $85 million in funding, valuing the company at $1.25 billion. This milestone makes them one of the first British Black-owned insurtech companies, following WorldRemit. Founded in 2017 by twins Oliver and Alexander Kent-Braham, Marshmallow started with affordable auto insurance for expats in the UK. Now, as a digital-only insurer, they use machine learning to offer cheaper and faster insurance for all. The funding came from Passion Capital, Investec Bank, and reinsurer SCOR, and the Kent-Braham brothers retain majority control. They plan to expand into global markets and diversify beyond auto insurance. Read more here: https://loom.ly/cOAcKcE #InsuranceBusinessMag #Insurtech #WorldRemit #PassionCapital
Insurtech Marshmallow becomes one of the first Black-owned UK unicorns
insurancebusinessmag.com
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We’ve got some big news! 🎉 AgentSync secured $50 million in funding to continue driving operational efficiencies for insurers and distributors, bringing our total up to $161 million raised. AgentSync solves a vital problem for the insurance industry: effective and efficient distribution. Thank you to Craft Ventures, @Valor Ventures, all of our amazing customers, and everyone who's helped us on our mission to deliver best-in-class producer management and compliance solutions to hundreds of insurance carriers, agencies, and MGAs. Since raising the Series B in Q4 2022, AgentSync has seen 3x ARR growth and more than 2x customer growth. Read more about the latest round of funding here: https://hubs.li/Q026R-Y-0
AgentSync Raises $50M in Funding to Drive Operational Efficiencies For Insurers and Distributors
https://agentsync.io
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We’ve got some big news! 🎉 We’ve secured $50 million in funding to continue driving operational efficiencies for insurers and distributors, bringing our total up to $161 million raised. AgentSync solves a vital problem for the insurance industry: effective and efficient distribution. Thank you to @Craft Ventures, @Valor Ventures, all of our amazing customers, and everyone who's helped us on our mission to deliver best-in-class producer management and compliance solutions to hundreds of insurance carriers, agencies, and MGAs. Since raising the Series B in Q4 2022, AgentSync has seen 3x ARR growth and more than 2x customer growth. Read more about the latest round of funding here: https://hubs.li/Q026R-Y-0
AgentSync Raises $50M in Funding to Drive Operational Efficiencies For Insurers and Distributors
https://agentsync.io
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🚀 The change that could transform the London insurance market 🚀 Late last year, The Gherkin played host to a crucial Tintech breakfast meeting, drawing together over a dozen seasoned insurance industry veterans. The gathering, comprising a diverse mix of brokers and insurers, centred its discussions on Blueprint Two – a pivotal initiative shaping the future of the London insurance market. InsurTech Novidea, who hosted the event, delved into the hot topics of the discussion, including 👇 1️⃣ Tech Vendors’ Crucial Role 👉 The discussion also brought forward a common belief that technology was at the crux of this transition. Moreover, that brokers will rely on technology service providers to navigate the transition to Blueprint Two. 2️⃣ Future Transformations 👉 Looking ahead, the cohort anticipates Blueprint Two to fundamentally reshape the insurance market, fostering improved interactions among brokers, insurers, and customers. Find the full article at Fintech.global 👉 https://lnkd.in/eWTq8UEg #Insurance #LondonMarkets #InsuranceNews #InsuranceTrends
The change that could transform the London insurance market
https://fintech.global
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On the formation of the InsurTech Coalition announcement, I’d argue an InsurTech advocacy organization is among last things needed to move forward, further fragmenting and reducing the opportunity for empathy with other stakeholders in risk. Advocates paid to argue around a problem or position have little incentive or capability to solve it, and no incentive to hold their clients more accountable. Try hiring IBM to remove their proprietary code from your technical solution. It’s just not in their interest to finish that project. One could work within the actual legal, operational and existing mechanisms of insurance to ACTUALLY bring accountability and transparency to the process, enabling speed, innovation and approval. The existing mechanisms stopped working and are not equipped or at all motivated/incentivized to support the dramatic changes possible. Regulators actually want to innovate, to say “yes” - but you can’t tell them, you have to show them, recognize and play by the rules of a regulated industry that is so regulated because it can create as well as manage systemic risks. Why isn’t the road to innovation accessible to InsurTechs? It’s not regulators saying no because they don’t understand your tech, it’s in the InsurTech community trying to increase the volume of their cause, lament industry problems, evangelize technology and sell their killer app, while not looking at the field in which they want to build and why they should be permitted for any impact. IMHO the creation of this org underlines the problem of the lack of empathy and protectionist tendencies across the industry. That said, I hope the InsurTech Coalition helps cuz it is a struggle to change existing power structures, and any allies for real purpose and change are most welcome.
Voice of Insurance Podcast. I CANNOT CONNECT as my connections have hit the maximum allowed. PLEASE FOLLOW & I WILL FOLLOW BACK. You can MESSAGE me on the Voice of Insurance page or email mark@thevoiceofinsurance.com.
YOU KNOW YOU'RE A THING WHEN YOU GET A TRADE BODY Insurtech in the US gets a trade body, InsurTech Coalition. Insurtech UK is already four years old, now has a full-time CEO in Melissa Collett and has had notable success negotiating the UK-Connecticut insurtech corridor. So given that good UK example, hopefully a bigger and more powerful US lobby with major established founders including Lemonade and Root Inc. will help get more done in more places and advocate on insurtech issues globally. Nice scoop from The Insurer https://lnkd.in/eESEGeNd https://lnkd.in/eHSgQciQ #insurtech
Root, Branch, Lemonade, others team up to launch advocacy group InsurTech Coalition
https://www.theinsurer.com
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Over the last decade, insurtechs have disrupted traditional insurance models. Yet, many insurtechs remain reliant on established insurers to actually underwrite their policies. FinanceMalta offers an alternative pathway for insurtechs seeking to become carriers. This pathway enables insurtechs to expand their operations or test new markets without relying on insurance or fronting partners. By leveraging Malta’s protected cell company (PCC) framework, insurtechs can directly access the European Economic Area (EEA) single market. Learn more right here: https://lnkd.in/eH2aAtgS #insurtech #insurance #innovation #ITCDIAAMS Ian-Edward Stafrace
FinanceMalta: Enabling Insurtechs to Become Carriers
https://www.itcdiaeurope.com
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Zala Insurtech News: Talanx Group, the German parent company of global reinsurer Hannover Re, has successfully finalised the acquisition of Liberty Seguros in Brazil. The post Talanx Group Finalizes Acquisition of Liberty Seguros in Brazil appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech
Talanx Group Finalizes Acquisition of Liberty Seguros in Brazil | Insurtech Insights
https://www.insurtechinsights.com
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