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

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

French startup Seyna is getting a brand new CEO. Stephen Leguillon is becoming a member of the corporate as chief govt whereas Philippe Mangematin is stepping again from day-to-day actions for private causes — he’ll turn out to be honorary chairman.

If you’re not aware of the corporate, Seyna is an insurtech startup that has obtained an insurance coverage license targeted on property and casualty. This is a big transfer because the French regulator (ACPR) hasn’t handed out a brand new license on this class since 1983.

The firm’s go-to-market technique can also be fascinating because it doesn’t promote insurance coverage merchandise to shoppers straight. Instead, the corporate is constructing out insurance-as-a-service merchandise. It companions with different corporations that supply Seyna’s insurance coverage merchandise below their very own manufacturers.

Behind the scenes, Seyna provides an API to generate insurance coverage contracts on demand — an API is a programming interface that lets two companies work together with one another. You may join on to Seyna’s interface to handle contracts.

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Seyna has created its personal core insurance coverage system, which is a vital differentiating issue in comparison with legacy gamers. The startup can generate many various variants that cowl round 20 completely different insurance coverage merchandise — pet insurance coverage, ticket cancelation, hire assure, and so forth. Clients embody Garantme and Decathlon.

The firm’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 coated on TechCrunch. He added a second product known as GoCater, a company catering service — GoCater was letter spun out from La Belle Assiette and bought by ezCater.

Seyna has raised a €14 million seed spherical ($17 million at in the present day’s charge) from Global Founders Capital, Allianz France, Financière Saint James and a number of other enterprise angels. Insurance corporations require a ton of capital to function, that’s why the seed spherical appears fairly massive for the French market.

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