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La Parisienne Assurances multiplies insurtech investment with astorya.vc

Publish date: 04 June 2019

La Parisienne Assurances' support for astorya.vc, a European investor in insurtech start-ups, is part of its positioning as a technological and European insurer. It allows astorya.vc to further increase its investment capacity and support insurtech start-ups in their commercial development.

An actor who perfectly meets the expectations of Insurtech startups

La Parisienne Assurances is a fully digitalized insurance market player. It designs and distributes its tailor-made white label property and casualty insurance products in 13 European countries to a wide range of partners: reinsurers, traditional brokers, insurtechs, e-commerce and distribution players.

At a time when the insurance market is undergoing technological change and practices are rapidly changing, La Parisienne Assurances designs and distributes integrated and customized solutions adapted to these new consumption trends (on-demand insurance, parametric insurance, etc.).

Thanks to its technological development and operational excellence, La Parisienne enables its partners to design and launch tailor-made products on the market in just 10 weeks, while market standards are still between 12 and 18 months to launch new products and involve costs of several hundred thousand euros.

Its insurance solutions are all available in the form of APIs (pricing, contract management, claims management, etc.), to be easily integrated into its distributors' digital platforms.

La Parisienne Assurances therefore perfectly meets the expectations of insurtech distributors in terms of time to market, agility, product innovation or digitalisation and is positioned as the preferred partner of leading insurtech companies such as Luko, Zego and Qover.

A partnership that helps European insurtech entrepreneurs

Astorya.vc, the only European investor exclusively dedicated to insurtech, is investing in technology start-ups to create the next generation of insurance. It has already made several investments in this market, ranging from €500K to €3M.

Astorya supports startups in their development by giving them access to its network of partner insurers in order to quickly launch innovative and competitive products or to integrate insurance as a complementary product to their services.

La Parisienne Assurances' support of astorya.vc therefore reinforces this unique positioning, by bringing technological expertise and first-rate product know-how to its portfolio of startups in order to build partnerships and rapidly develop their business.

This collaboration with astorya.vc will also allow La Parisienne Assurances to access the dealflow of more than 2,500 insurtechs identified by astorya.vc in recent months in Europe. Thanks to this automated sourcing, La Parisienne will be on the lookout for new technologies and societal trends, to identify key investments to be made in the insurance market and to expand its distribution network in Europe.

“With this partnership, we want to support a structure that knows well the world of technology start-ups and that will be able to detect the European unicorns of tomorrow and enable us to support the champions of insurtech. This collaboration with astorya.vc will enable us to identify as soon as possible all the insurtech players and help our partner to go even further in its development with the objective of bringing a breakthrough on the insurance market. Our European and technological dimension as well as astorya's ability to identify the players of tomorrow make our support obvious", says Olivier Jaillon, Chief Enablement Officer of La Parisienne Assurances.

“We are delighted to collaborate with La Parisienne Assurances, an innovative company that has demonstrated its ability to address new markets in the rapidly changing insurance sector. Through this additional partnership, we plan to provide operational support to the start-ups we identify to enable them to build the products they expect more rapidly," says Florian Gaillot, President of astorya.vc

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