Digital Insurance Group closes €15m funding

Digital Insurance Group has closed a €15m funding round co-led by Finch Capital and Zurich Insurance.

The Amsterdam-based company, which operates as a digital insurance platform, was established following the merger of Knip and Komparu.

In addition to the investment, DIG has also entered into a multi-year collaboration agreement with Zurich Insurance Group, adding another blue chip name to its customer list. DIG will use its technology to support Zurich Insurance in developing innovative and mobile solutions, constantly optimised by deep customer data analytics.

Theo Bouts, CEO of Zurich Insurance Mobile Solution (ZIMS) said: “We are excited about this collaboration with DIG, a leading InsurTech innovator, to support our digital strategy and capabilities and to ensure we shape the future of insurance.”

DIG provides a data-driven insurance platform enables its customers to roll out fully customized mobile-first insurance experiences at record speed. DIG works with insurers, banks and brokers.

and other companies that want to offer innovative insurance solutions to their customer base. The company is currently working with clients in multiple countries in Europe and Latin America.

Radboud Vlaar, partner at Finch Capital added: “We are proud to support the incredible team at DIG as they continue to build on their success providing leading digital insurance solutions to their banking, insurance and broker clients in Europe and since 2018 also outside Europe.”

Last month, InsurTech startup CoverWallet landed an undisclosed investment from Zurich Insurance. Through the commercial partnership, CoverWallet extended its US platform to Europe, enabling Zurich to provide small businesses with a platform to learn about types of policies, get quotes, purchase insurance, and manage their coverage, online, in minutes.

In InsurTech space, Laka recently raised £1.1m to take its product beyond bicycles and into more lifestyle products. Founded in 2017, Laka claims to have has developed a ‘unique insurance model’ in which customers only pay for the true cost of cover. At the end of each month, the cost of claims is split fairly between customers, with the individual’s maximum premium capped at market rate for customer protection.

Copyright © 2018 FinTech Global

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