Swiss insurer Helvetia has bought a stake in an insurtech company based in Estonia. The solution provided by the firm enables customers to get comprehensive coverage online.
Helvetia acquired a stake in Inzmo via its Venture Fund, the Swiss company said in a statement today. Inzmo developed a fully digital B2B2C insurance procedure covering all steps required – from contract to administration of policies and claims, Helvetia added.
Helvetia has been gaining experience with the Inzmo solution since June. The insurer paid less than 10 million francs for the stake.
Bicycle Theft
The technology allows users to buy coverage within minutes and to administer their policies. They can also file claims online, using the application.
Helvetia and Inzmo are active in selling insurance policies covering bicycles, electronic gear, glasses and watches. Inzmo will use the money Helvetia invested to develop the application further.
