Seyna is building an insurance-as-a-service startup for the French market


Tech / Techcrunch 179 Views 0

French startup Seyna is getting a new CEO. Stephen Leguillon is becoming a member of the company as chief government while Philippe Mangematin is stepping back from day-to-day actions for personal causes — he’ll grow to be honorary chairman.

In the event you’re not conversant in the company, Seyna is an insurtech startup that has obtained an insurance coverage license targeted on property and casualty. This can be a vital transfer as the French regulator (ACPR) hasn’t handed out a new license in this category since 1983.

The company’s go-to-market technique can also be fascinating because it doesn’t promote insurance merchandise to shoppers instantly. As an alternative, the company is building out insurance-as-a-service products. It partners with other corporations that provide Seyna’s insurance coverage merchandise beneath their very own manufacturers.

Behind the scenes, Seyna provides an API to generate insurance contracts on demand — an API is a programming interface that lets two providers interact with one another. You can too connect directly to Seyna’s interface to manage contracts.

Seyna has created its own core insurance coverage system, which is a vital differentiating factor in comparison with legacy gamers. The startup can generate many various variants that cowl round 20 totally different insurance merchandise — pet insurance, ticket cancelation, lease guarantee, and so on. Shoppers embrace Garantme and Decathlon.

The company’s new CEO Stephen Leguillon earlier co-founded La Belle Assiette, an organization that allows you to rent a chef for a dinner at house and that I covered on TechCrunch. He added a second product referred to as GoCater, a company catering service — GoCater was letter spun out from La Belle Assiette and purchased by ezCater.

Seyna has raised a €14 million seed round ($17 million at immediately’s price) from International Founders Capital, Allianz France, Financière Saint James and a number of other business angels. Insurance coverage corporations require a ton of capital to operate, that’s why the seed round seems fairly huge for the French market.