Paris-based InsurTech startup Little John has raised €1.1m in pre-seed funding to develop its generative AI platform tailored for independent insurance brokers.
The funding round was led by Febe Ventures, Vessoa Private Equity, and neo-insurer Leocare, according to EU Startups.
It also included contributions from prominent business angels, such as Didier Valet, general partner at Varsity, and UK investor Mark Ransford.
Little John is focused on empowering insurance brokers by providing them with AI-driven tools designed to optimise risk placement, compliance, and productivity.
The startup’s flagship product, a GenAI-powered tool, is scheduled for launch in Spring 2025 as part of its SaaS platform.
This tool will enable brokers to automate critical workflows, such as extracting and analysing client data from emails and documents and generating tailored insurer presentation notes.
The newly secured funds will primarily be used to develop these AI tools and foster a collaborative community of brokers called the “Sherwood community.”
This group of early testers will access a beta version of the platform in February 2025, offering feedback to refine its usability and functionality.
CEO Olivier Legrand, who previously held roles as COO of Brevo and CEO of LinkedIn Asia Pacific, said, “We firmly believe that independent brokers are the future of business insurance brokerage. However, to meet the industry’s transformations, they must evolve their profession, and generative AI offers a concrete, immediate answer to this need.” He added that the funding marks a significant step towards Little John’s mission to “bring GenAI at the heart of the services independent insurance brokers deliver to corporates.”
The company was co-founded by a team with deep expertise in insurance and technology, including Grégoire Rastoul, former COO at Leocare; Pierre Sigwalt, a seasoned CTO in insurance tech; and Renaud de Pressigny, a senior advisor with over 40 years of experience in insurance.
Little John’s tools aim to enable brokers to remain competitive in a €1.5tn European insurance market, characterised by complexity and stringent regulatory requirements. The startup envisions creating a network where brokers can pool resources and expertise to challenge larger players in the industry.
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