This morning, Anna Heim and Alex Wilhelm, interviewing European VCs and collating the biggest recent rounds to take the temperature of the waters across the pond:
- Alex Timm, CEO of Root
- Dan Preston, CEO, MetroMile
- Luca Bocchio, partner, Accel
- Florian Graillot, investor, Astoria. VC
- Stephen Brittain, director, and founder, of Insurtech Gateway
Several European-based insurtech startups entered unicorn territory this year, such as Bought By Many, which offers pet insurance; London-based Zego; and Alan, a French startup that raised $220 million.
According to Brittain, EU startups in this sector are “still at the very early stages of innovation,” having only shown “a fraction of what’s possible” in a market that is “as large as banking.” Interestingly, he predicted that AI would play a more significant role as companies deploy it for fraud detection, improve customer experiences, and process claims more quickly. We are fully expecting the next generation of AI-driven business to unlock real-time risk analysis, pricing, and claims resolution in the next few years,” he said.
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Senior Editor, TechCrunch
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