Neosurance

insurtechartificial intelligence/machine learningsoftware/whitelabel/apis-insurtech

FOUNDING YEAR: 2016
LOCATION: Italy
Last Update: 08/09/2020

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About

We provide the Next Generation Virtual Insurance Agent for Insurance Disruptors that want to sell Contextual Insurances in the Age of the Customer

MEDICI Analysis

Neosurance offers insurance companies a system based on push of microinsurance sale. It uses artificial intelligence system that works with the IoT data to propose the right insurance at the right time. It works as virtual insurance agent which provides insurance companies with technology solutions to offer on-the-spot micro-policies to their clients. The company was selected by BBVA Open Talent AI program 2017.

Focus

PRODUCTS & SERVICES

A SaaS-based virtual insurance agent platform for insurance companies. The company provides a solution for Insurers based on push sales of short period micro-insurance. The core of the project is the A.I. machine learning system that works with the IoT data, capable of learning and suggest the right insurance at the right time, to the end customer. The plug-and-play module sells insurances through a twofold push-based cognitive model and SDK enabling cross-selling in insurers’ apps.

REVENUE MODEL

We take a 30% fee on each transaction: 70% goes to the insurance partner company; The remaining 30%. - 10% fee -> sales partner - 10% product management -> Neosurance - 10% operations -> Neosurance. Our plug-and-play module sells insurances through a twofold push-based cognitive model and SDK: - to leverage existing communities' apps - to enable cross-selling in insurers' apps

MAIN CLIENTS

Insurance Disruptors

EXISTING PARTNERSHIPS

KLCC Runners Group

AXA

Models Corner Milan

TiAssito 24

etc.

PRIMARY PROBLEM SOLVED

Engagement and monetization of digital customers by delivering the best insurance experience where and when it matters most. New and accessible high-frequency, small tickets insurance that people will want to buy are sent to the customer through highly personalized push offers according to the single individual and the context.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

COMMENT

The AI component of Neosurance perfects the knowledge on insurable moments and on personal behavior to sell the right cover at the right moment in an effective way.

Traction

VALUATION / MARKET CAP:

$3.27 M in 2017

REVENUE

$0 - $99k

People

FOUNDERS

Andrea Silvello

INVESTORS:

Matteo Carbone

Pietro Menghi

KEY EMPLOYEES:

Pietro Menghi (CEO)

Dario Melpignano (CTO)

COMMENT:

Recently, the company has appointed Pietro Menghi as a new CEO in Feb 2017. Pietro is a professional veteran with a 20 year of experience in the insurance industry,having held top roles in Swiss Re,Willis.

Momentum

FUNDED

NO

TOTAL FUNDING

$1.08 M

DATE OF LAST FUNDING

Sep 2017

SEED & PRIOR FUNDING

$1.08 M

SEED CLOSED ON

Sep 2017

SEED PRIOR FUNDING COMMENT

The company has received €50k as a grant from HORIZON 2020 program in Jan 2017.

PRIZE MONEY

$53.32 K

LISTED

NO

Innovation Programs

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Neosurance

About

We provide the Next Generation Virtual Insurance Agent for Insurance Disruptors that want to sell Contextual Insurances in the Age of the Customer

Focus

PRODUCTS & SERVICES

We provide a solution for Insurers based on push sales of short period micro-insurance. The core of the project is the A.I. machine learning system that is able to work with IoT data and to “learn” on the go. The insurer is thus capable of coming up with the right insurance proposition when the client needs it, without having to ask for it. The AI component perfects the knowledge on insurable moments and on personal behavior to sell the right cover at the right moment in an effective way.

REVENUE MODEL

We take a 30% fee on each transaction: 70% goes to the insurance partner company; The remaining 30%: • 10% fee -> sales partner • 10% product management -> Neosurance • 10% operations -> Neosurance. Our plug-and-play module sells insurances through a twofold push-based cognitive model and SDK: • to leverage existing communities’ apps • to enable cross-selling in insurers’ apps

TOP PROBLEM SOLVED

We help you engage and monetize your digital customers by delivering the best insurance experience where and when it matters most. The “digital insurance snacks” module is an approach to deliver one-time personalized insurance products: the new and accessible high-frequency, small tickets insurance, that people will want to buy (different from the traditional policy “sold, not bought”) and which are sent to the customer through highly personalized push offers according to the single individual and the context.

PRODUCT DEVELOPMENT STAGE

PROTOTYPE

PRODUCT DEVELOPMENT COMMENT

New in the InsurTech arena, but grown on the shoulders of giants, Neosurance has already proved itself as the best-in-class player. • Winner of AXA Insurance Lab contest, Insurance IoT Europe Award and Aviva Digital On. • Based on Neosperience, leading mobile technology platform winner of the prestigious prize awarded by the President of the Italian Republic; Gartner Cool Vendor; Red Herring Top 100 Global and Europe winner; distinguished in Gartner Mobile App Platforms Magic Quadrant, IT Market Clock for Enterprise Mobility, Key Players in Vendor Landscape for Mobile Tech.

KEY DIFFERENTIATORS

We sell micro insurance by using push notifications that are sent to the users in an intelligent way thanks to our machine learning and AI system that learns on the go.

PRIMARY CUSTOMER TYPE

Consumer

Traction

ANNUAL REVENUE:

$0 - $99k

LIVE USERS/TRANSACTIONS:

No live users/transaction yet

CHANNEL STATUS

MULTIPLE CHANNELS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

0

People

NUMBER OF EMPLOYEES

1-10

TEAM COMMENT:

Our team is awesome because we have as co-founder Dario Melpignano of Neosperience, the leading digital customer experience technology platform; after 2 successful global exits (Datanord,FullSix), Dario developed some of the most innovative European mobile application,services.

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES