The Venture Codex

Led · Equity · Jul 2021

Insurello offers a digital solution that proactively educates users about their insurance coverage and files claims to maximize payouts on their behalf. Users create a case online and Insurello searches for all possible compensations based on the user’s coverage. The company charges a 25% fee on compensation when a claim is successful and collects no fee if it fails. Insurello was founded in 2016 and has paid out over SEK 200 million in compensation to consumers. Management says the team plans to expand into new markets and additional verticals to grow the service. The company recently completed a new financing to support this expansion. Insurello is a Stockholm-based insurtech that helps consumers claim fair compensation from insurance companies after personal accidents. Its digitised service handles the entire claims process and identifies compensation users weren’t aware of. The company has managed over 85,000 insurance claims and paid consumers more than €7 million. Founded in 2016, Insurello has doubled its team in the last 12 months to around 70 people. It recently acquired Ifdelayed.com to capture flight-delay claims alongside personal-accident claims. The startup raised €7.1 million to fund international expansion and to continue automating and simplifying its product for consumers.