Kinsu to close down InsurTech app

Kinsu – an InsurTech for gadgets, bikes, and home content coverage – has announced that it is closing down its mobile app.

The start-up has said its coverage for current customers will end at midnight on 30th April and has already removed its app from online stores.

In a Medium post the company said it has sent its platform users correspondence regarding their coverage and data deletion. The app itself is set to be discontinued on 22nd March and Kinsu has recommended its customers delete the app.

Kinsu was founded by former Hiscox Bermuda executive vice president and underwriting director, Christopher Sharpe. The company would raise £1.25m across two funding rounds, according to a report by Insurance Times.

The company would also establish partnership with Impossible, H2, Humankind and Emma.

“We began with an incredible concept: provide peace of mind to our customers and be a Force For Good in the world,” Kinsu said in its statement.

“For us, Kinsu was never just an insurance product. We are a community of people who truly believe in being socially conscious and kind. We hope that we’ve made a big impact in changing people’s mind about what it means to have insurance.

“For us, it’s all about honesty, trust and the contributions of the many acting as a buffer for the few, cushioning the fall for those who suffer a loss.”

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