Helvetia backs Cobertoo

Swiss insurer Helvetia via its venture arm Helvetia Venture Fund has invested in Madrid-based P2P product insurance scheme Cobertoo

Founded in 2018, the startup collects a 25% fee (up from 20% in 2018) to manage the community, and the remaining 75% are used for claims. If there’s money left from the claims pot, Cobertoo will donate (25% of what is left in the pot) and give back (75%) the money to the community.

Bottom Line: so-sure comes to mind.