Thinksurance, a leading German insurtech specializing in digital insurance consultations for commercial and industrial clients, has raised €22 million in new funding. The capital comes from new investors as well as existing shareholders and will enable Thinksurance to expand its leading position in the market.
The round was led by international insurtech specialists Viewpoint Ventures and M-Tech Capital as well as venture capital fund Segenia Capital. Existing investors Eight Roads Ventures, a global venture capital firm, and Columbia Lake Partners also participated in the round.
The funding will enable Thinksurance to continue to expand its platform to cover further aspects of the consultation and distribution of commercial insurance, empowering brokers, agents, direct sales, and any other distribution channel to profit from its innovative platform.
“We’re delighted to have established Thinksurance as the partner of choice supporting distributors and insurers far and wide in digitalising their distribution processes. With this funding, we plan to continue to broaden the scope of our offering and value add to our partners”, explains Florian Brokamp, CEO and Co-Founder of Thinksurance. “Our vision comes down to enabling brokers and insurers to really be able to focus on what they do best as opposed to getting bogged down with time-consuming busy work – ultimately to the benefit of the entire industry and its clients.”
Founded in 2015, the company’s platform enables insurance distributors to fully digitalise consultations and policy processes, allowing them to provide tailor-made insurance solutions for their clients with speed and accuracy.
Meanwhile, insurers benefit from a step change in efficiency for their tied, broker, and direct sales channels. Thinksurance has built an extensive track record with its partners including most of the leading players in European insurance such as Allianz, Axa and Zurich, and now over 50.000 individual brokers and agents that consulted more than 1.5 million customers with the company’s platform.
“Thinksurance has quickly established itself as a pioneer in the field of digital insurance consultations,” said Carsten Radtke, General Partner of Segenia Capital.
“As a venture capital fund that is backed by dozens of insurance entities and is focused on insurance, we understand the critical role insurance brokers and agents play. Insurance entities around the world are searching for solutions to help distributors maximize time spent delivering valuable services to their clients. Thinksurance is one of few that help accomplish that in a unique and innovative way,” affirms Drew Aldrich, Founding Partner of Viewpoint Ventures.