Knip is a Swiss mobile-first digital insurance broker offering an iOS and Android app that centralizes users' insurance policies, tariffs and services. The app has 330,000 downloads in Germany and Switzerland and automatically analyses coverage to spot gaps and recommend improvements. Users can view payments, contract durations, change tariffs, take out new contracts and cancel old policies through the free app. Knip monetizes by charging fees to partner insurance companies for managing policies and by taking commissions on new insurance contracts. The company also employs a team of salaried insurance brokers who provide advice on request, a model noted in the article as less commission-driven and potentially less scalable. Knip says it differentiates itself by building its own backend and data science to provide automated advice and by owning the full insurance-broker process.

Total raised

$16M

Funding rounds

1

Latest round

Series B

Latest activity

Oct 2015