And 73.1% of Spaniards have secured insurance for their home. This is illustrated by a study conducted by the startup Cleverea with the demographic company Sigmados on the current state of the insurance sector. Now the Catalan company it seeks to invade this segment and in the coming months will join the vertical family to expand its customer offering. With this new line of business, the startup firm is launching itself to compete with major insurance companies such as Mapfre, Mutua o Straight line.
“Is he core business sector and is an important challenge ”, the co – founder of Information Company, Javier Bosch. For this new project, it will launch three types of home insurance. The first one for tenants, for those who rent and seek to protect their belongings. there will be another for homeowners living in your home and take care of both your personal belongings and facilities (in case of fire, flood, etc.). Finally, insurance rent owners your home trying to protect your facilities.
The study document, which included a sample of 800 people of different ages, genders and geographically dispersed parts of Spain, shows that 60% of those surveyed consider getting insurance with a new insurer. This figure from Cleverea is seen as uOpportunity to continue creating its ‘custom insurance’ platforms for users. On the other hand, 70% of people are insured in one or two companies because they can’t get it in the same place: “This ensures that we build products from different verticals so that the client does not have to deal with different companies and We we have the choice of multiline ”, says Bosch.
Cleverea strives to be a platform that offers all types of insurance to customers in one place. In 2023 it will add life insurance, pets and electronics
The company was born in 2019 with mostly street and mobility insurance. have plans for bicycles, scooters, motorcycles and cars. The analysis shows that insurance is the most in demand coach (83.1%), after the home and then the head from life (37.3%). While those with the lowest penetration have life insurance bike o scooters (both with 1.6%), products that the startup currently offers and hopes to rise. For the company, 70% of claims are roadside assistance due to lack of battery or punctured tires.
Its business model is based on sell directly through its platform and capture traffic in a variety of ways (social networks, recommendations, Google Ads). But it also does B2B2C deals; namely, insure their consumer-related sites (they offer their product in the sale of cars, bicycles, motorcycles, among others); with banks; neobanks or insurance comparators such as Rastreator. Cleverea charges users in two ways: monthly or annually, and the payment method is determined by the customer. On average a 55% do it annually and 45% monthly.
“This study helped us understand how people see the sector and what we can cover as a company to eliminate friction points,” says the co – founder. Thanks to the results, he noticed that In general, 30% of Spaniards have little confidence in their current insurance, and that’s one of the pillars he’s trying to focus on as a brand new. “It simply came to our notice then. Generating that confidence in existence and takes time ”, Bosch ditches, so Cleverea will focus on this percentage of the population.
The company, founded Javier Bosch, Joan Bosch and Alvaro Sanz, Is supported by various shareholders. Since its inception, it has raised a total of 7.6 million euros in funds such as Inveready (Volava, Softonic, Odilo), TA Ventures, FJ Laboratories (Abacum, Alibaba, Auro), Bonsai Partners, among others. But the British fund is its main investor and those inside the company’s board of directors Strip together with the founder of Glovo, Oscar Pierre, who came in as a business angel. According to Bosch, from the money it has raised, they have invested about 4 million.
Currently the company There are 40 people within its team and just over half of them are committed to developing the platform software. According to the co – founder, the company has grown 15% per month and expects this year to multiply the previous year’s figures by 5, in terms of clients and insurance premiums. for the coming months he will focus on his new vertical home insurance and in 2023 it will be launched in new lines of business: life insurance, pet insurance and finally electronics insurance. They all aim to be a customized platform for users so that they can access all types of insurance from Cleverea.
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