Insurtech startup, Sherpa, announced it has raised $2.3 million in funding from angel investors, in a venture designed to “change the way personal insurance is delivered.”
“We have completely re-thought the way insurance has worked for 100’s of years,” says Chris Kaye, CEO and co-founder of Malta-based Sherpa.
“Doing away with the concept of the insurance ‘product’ and inventing a new, holistic way of underwriting risk. To traditional insurers, you are just the sum of your policies,” he said, noting that Sherpa aims to treat each of its members “as a unique person whose risks change all the time.”
Launching in the UK later this year, Sherpa will offer a unique personal insurance account providing its members “with unbiased guidance and personalized insurance through a digital, mobile friendly interface,” the company said in a statement.
One account will cover all a client’s personal risks “coupled with a simple solution for personal risk management that due to its unique subscription model is unequivocally on the consumers’ side,” it added.
“We are really thrilled that so many experienced insurance and tech investors have decided to back Sherpa. These funds will enable us to expand the already incredible team and invest further in the Sherpa ‘brain’ – the proprietary IP that powers Sherpa,” said Kaye.
“Our investment in Sherpa is an embodiment of our belief in amazing people doing audacious things. Sherpa has assembled a fantastic team of industry veterans. It’s the best team we have seen in insurtech,” said Mehrdad Piroozram, an entrepreneur and partner at InsurTech.vc.
Source: Sherpa
Topics InsurTech
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