Neat Raises €50 Million for Embedded Insurance

Neat, a Paris-based insurtech startup, has secured €50 million in funding to scale its embedded insurance platform. The round, led by Hedosophia, includes a mix of equity and debt, with approximately 60% coming from equity and 40% from debt.

• The funding will enable Neat to expand its reach and develop new insurance products.
• Neat focuses on creating innovative insurance products tailored to specific needs and industries.
• The company has a broad focus, offering insurance in 10 different verticals, including travel insurance, smartphone insurance, and hearing aid insurance.

Neat's Approach to Embedded Insurance

Neat's core business is embedded insurance, offering insurance products integrated into the customer journey of partner businesses. The startup works with companies in various sectors, including retail, travel, and finance, to offer relevant insurance products at the point of sale.

• For example, a customer purchasing a smartphone might be offered an optional insurance plan.
• Neat's technology and expertise allow partners to seamlessly offer insurance without managing the complexities of the industry.

Neat's Innovative Insurance Products

Neat develops its own insurance products, ensuring tailored solutions for specific needs and industries. This approach enables the company to offer flexible and customizable insurance plans.

• Neat offers travel insurance that considers factors like age and destination.
• Smartphone insurance pricing varies depending on the device model, age, and condition.
• Neat's ability to create bespoke insurance products makes them adaptable to changing customer demands.

Neat's Partnerships and Distribution

Neat has forged strong partnerships with a network of 1,500 distribution partners, reaching over 1 million customers. This extensive network allows Neat to deliver its insurance products to a broad audience.

• Partner companies benefit from Neat's expertise and technology, allowing them to easily integrate insurance products into their offerings.
• Neat's approach fosters a win-win situation, enabling partners to generate additional revenue streams and providing customers with valuable insurance options.

Neat's Impact on the Insurance Industry

Neat is disrupting the traditional insurance industry by introducing an embedded insurance model. The company's innovative approach provides customers with more personalized and accessible insurance options.

• By streamlining the process, Neat makes insurance more efficient and convenient for both customers and businesses.
• The company's success highlights the growing demand for embedded insurance solutions.
• Neat's approach is poised to revolutionize the insurance sector and make insurance products more readily available and relevant.

Series A Funding and Future Growth

Neat's Series A funding round underscores its strong growth potential and the confidence investors have in its vision. The investment will support the company's continued expansion, enabling Neat to reach more customers and partner businesses.

• The funding will allow Neat to further develop its technology, expand its team, and explore new markets.
• Neat's ambition is to become a leading player in the embedded insurance space, offering a wide range of innovative insurance products.