Connected Home Insurtech Neos Raises £5M in Series A
London-based Neos announced it has raised £5 million in a Series A round led by Aviva Ventures, with participation from Munich Re, bringing its total funding to date to $7.7M . The startup, which was launched in 2016, provides customers with the tech they need to keep their home safe plus a home/renters insurance quote from Hiscox. By tech think HD cameras, motion sensors, smoke detectors, door contacts and water leak sensors. Have a look at the quoting component.
To be continued here. Also, the startup now has underwriting authority from Munich Re through a managing general agent (MGA) agreement. “We’ve built a completely new type of home insurance product. Never before have we seen an insurance company offer to proactively protect your home from the threats of water, fire and theft” – Neos founder and CEO Matt Poll. Bottom Line: CA-based Hippo, with $14M in funding, is 1. the closest US example 2. proof that US investors are more generous. Oh, and someone does a tad bit better job at driving eyeballs to its site. For now.
Speaking of home insurance, did you know that Aussie insurer SunCorp offers a $50-$100 discount for those purchasing coverage online?
Recall 2017 insurance-related investments here.