Simplesurance Group Named to the 2017 Fintech 250, Highlighting Advancements in their Cross-Selling Software Solutions for E-Commerce.
New York, NY, June 28, 2017. CB Insights today named simplesurance to the prestigious Fintech 250, a select group of emerging private companies working on groundbreaking financial technology. CB Insights CEO and co-founder, Anand Sanwal, revealed the Fintech 250 companies during The Future of Fintech, a gathering of the world’s largest financial institutions, best fintech startups, and most active venture investors.
“The financial services industry will see more change in the next 10 years than it has in the last 100. And that transformation is being driven by a group of smart insurgent startup companies. The Fintech 250 are the most promising of these insurgents. They are bringing emerging technologies and business models to financial services that will permanently change the way we handle money and do business,” said CB Insights CEO Anand Sanwal.
“The insurance industry has been experiencing massive change during the last few years. Insurances are facing problems targeting customers, especially young digital natives. With simplesurance, we created a new access for customers to the broad market of insurance, with no additional acquisition costs, by offering insurances at the e-commerce-market. Our technology that we are continuously refining works with every shop system and can be easily integrated. Moreover, we have established a way to extend the Customer Lifetime Value, by offering our customers additional service via a mobile application that allows to manage different insurance policies fully digitally. simplesurance is proud to create a new distribution channel for insurances and changing the way customers see and buy insurances“, said simplesurance founder and CEO Robin von Hein.
The CB Insights research team selected the Fintech 250 companies based on several factors including data submitted by the companies and the company’s Mosaic Score. The Mosaic Score, based on CB Insights’ National Science Foundation-funded algorithm, measures the overall health and growth potential of private companies. Through this evidence-based, statisticallydriven approach, the Mosaic Score can help predict a company’s momentum, market health and financial viability.
Companies such as Affirms, Stripe, Robinhood, Acorns, Nav and Blue Vine joined simplesurance in being recognized for their innovative technology in front of an audience of 1000 senior executives from around the world and news outlets including The New York Times, The Wall Street Journal, The Financial Times, Reuters and Bloomberg.
Within five years since simplesurance was founded the Berlin-based company was integrated into more than 2.000 E-Commerce Platforms and enabling customers to purchase suiting insurance for their products into the shopping basket with just one click. By automating the entire process, from creating insurance relevant data to repair and claim management, simplesurance has created a fully digital experience for the customers. The shop partners benefit from continuous conversation optimization and can offer extended service to their customers, which will constantly increase their margins. By now, a broad variety of products such as electronic goods, furniture, sports equipment, and many more are insurable via simplesurance, meeting individual needs in contrast to classic household insurances that usually don’t cover breakage or theft outside of closed doors.
Quick facts on the Fintech 250:
- These 250 emerging private companies have raised $14B across 240 deals in 2016.
- Applications of their technology include breakthroughs in insurance, lending, payments, human resources, real estate, and much more.
- More than 2,000 companies were nominated or applied for the Fintech 250 (only 8% were selected). ● Ribbit Capital has backed 17 of the Fintech 250 companies, while Andreesen Horowitz and Goldman Sachs backed 9.
- Twenty-three Fintech 250 companies have reached a valuation of $1B or more.
- 23 countries are represented among the Fintech 250 companies.
About CB Insights
Our team comes to work every day to build technology that helps corporations guess less and win more. We aggregate and analyze massive amounts of data and use machine learning, algorithms and data visualization to help corporations replace the three Gs (Google searches, gut instinct and guys with MBAs*) so they can answer massive strategic questions using probability not punditry. With backing from the National Science Foundation and venture capital investors, we mine terabytes of data and knowledge contained in patents, venture capital financings, M&A transactions, hiring, startup and investor websites, news sentiment, social media chatter, and more. Our software algorithmically analyzes this data to help our clients see where the world is going tomorrow, today.