Neosurance Wins “Phase 1” of Horizon 2020’s SME Instrument

By LTP

Neosurance, the innovative startup that proposes technological solutions for insurance companies, has been selected by the European Commission as the winner of HORIZON 2020 “Phase 1” – a prestigious European award for research and innovation – thus benefiting from a 50.000 euro grant.

Neosurance proposes technological solutions for mobile, based on an innovative technological platform which can be used by insurance companies in order to sell microinsurance of limited duration.

The startup, which has seen a spectacular growth process, has closed three agreements with important international insurance companies between the end of 2016 and the beginning of the new year. This allowed for the first revenues to be generated and for Neosurance to become a renowned innovative startup at a global level. The startup was born at the beginning of 2016 as a joint venture between Digital Tech – active in the insurance technology and digital health sectors, and Neosperience – market leader in creating digital solutions for an efficient customer experience. The two co-founders are Andrea Silvello, CEO and Co-founder of Digital Tech with over 10 years of experience in strategic business consulting and Dario Melpignano, who after having worked for Steve Jobs founded Neosperience in 2008 turning it into a leading digital customer experience solution provider.

“We are proud to be one of the three Italian companies to have received this important public acknowledgment at a European level in the Open Disruption category,” Andrea Silvello said. “It’s another major step towards confirming the leading edge that our country has in the insurance innovation sector. Italy is by far the leading country when it comes to the use of telematics in auto insurance.”

It’s not the first time that Neosurance takes home a prize. The first acknowledgment for the startup came last July from London with the IoT Newcomer Award win. Soon after, AXA chose it as one of its exhibitors for the Paris Viva Tech event.

The element of novelty brought by Neosurance as a startup is that it offers microinsurance in a push manner based on a system capable of correctly perceiving insurable moments through an evolved machine learning and digital customer experience mechanism which elaborates data and “learns by doing.” The Insurer is thus capable of offering the right coverage when the customer actually needs it. A personalized notification is sent to the smartphone of the potential client with the proposed short-period insurance coverage for a specific event: the push notification arrives at “the right time” and is easy to activate with just a few clicks and at a very low price.

First appeared at LTP