Hannover Re Takes a 25% Stake in New P2P Insurtech Pineapple
— Pineapple™ (@Pineapple_SA) August 29, 2017
This is the Pineapple way of doing things, as described in a LinkedIn post:
– Remove the conflict of interest in insurance – because “currently, every claim an insurer denies adds to their bottom line”
– Provide transparency – show customers exactly how their premiums are being used
– Reintroduce affinity into insurance
Also, it has recently secured ~$400K from Lireas, the strategic investment arm of Hannover Re Group Africa, in return for a 25% stake in the business , which it considers a “minority” stake. BTW, the startup was formerly called Amyti and this was its initial teaser video:
Bottom Line: busy signing term-sheets and prepping for an end-of-year launch.
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“We are incredibly pleased to continue to grow our partnership with Hannover Re. They are an industry-leading innovator. Their risk management expertise and agile underwriting support have given us the tools we need to both delight the modern consumer and support sustainable innovation.” - CEO and Co-Founder of Ladder, Jamie Hale.