Based out of Frankfurt, Thinksurance, an insurtech company, has snapped $24 million in new funding. This round was led by international insurtech specialists Viewpoint Ventures and M-Tech Capital as well as Segenia Capital. In addition, existing investors Eight Roads Ventures (which backed Safe Security), and Columbia Lake Partners also participated in the round.
Expansion of its platform to cover new aspects
Thinksurance will use the fresh funds to expand its leading position in the market. Also, the company will continue to expand its platform to cover further aspects of the consultation and distribution of commercial insurance. This way, the insurtech startup will empower brokers, agents, direct sales, and any other distribution channel to profit from its innovative platform.
“We’re delighted to have established Thinksurance as the partner of choice supporting distributors and insurers far and wide in digitalising their distribution processes. With this funding, we plan to continue to broaden the scope of our offering and value add to our partners”, explained Florian Brokamp, CEO and Co-Founder of Thinksurance. “Our vision comes down to enabling brokers and insurers to really be able to focus on what they do best as opposed to getting bogged down with time-consuming busy work – ultimately to the benefit of the entire industry and its clients.”
“Thinksurance has quickly established itself as a pioneer in the field of digital insurance consultations,” said Carsten Radtke, General Partner of Segenia Capital. “We are impressed by the company’s innovative strength and growth potential. We look forward to accompanying Thinksurance on its journey and are confident that they will change the insurance industry with their innovative approach.”
“As a venture capital fund that is backed by dozens of insurance entities and is focused on insurance, we understand the critical role insurance brokers and agents play. Insurance entities around the world are searching for solutions to help distributors maximise time spent delivering valuable services to their clients. Thinksurance is one of few that help accomplish that in a unique and innovative way,” stated Drew Aldrich, Founding Partner of Viewpoint Ventures
Digital commercial insurance solutions
The German firm was founded in 2015 by Christopher Leifeld, Florian Brokamp, and Timm Weitzel after recognising the need for simplified and digitised insurance processes for SMEs. Thinksurance is touted to be a leading provider of digital commercial insurance solutions in Europe. The company specialises in digital insurance consultations for commercial and industrial clients.
The company’s platform enables insurance distributors to fully digitalise consultations and policy processes, allowing them to provide tailor-made insurance solutions for their clients with speed and accuracy. On the other hand, insurers benefit from a step change in efficiency for their tied, broker, and direct sales channels.
Wide network of partners
Further, Thinksurance has built an extensive track record with its partners, including most of the leading players in European insurance such as Allianz, Axa and Zurich, and over 50.000 individual brokers and agents that consulted more than 1.5 million customers with the company’s platform.
