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  • Insurance
  • Payment
  • France

New Affinity Partnership for Moonshot

FACTS

  • Moonshot-Internet, InsurTech by Société Générale, teams up with PayinTech, FinTech focusing on cashless payments.
  • They will jointly craft new services for sports clubs’ subscribers and supporters.
  • Subscribers’ subscription cards will then become means of payment (managed by PayinTech) paired with an insurance policy (by Moonshot-Internet).
  • Cardholders would then be covered in case of loss or theft of their subscription and payment card.
  • Besides sports clubs, this solution may later address players in leisure and tourism industries.

KEY FIGURES

  • PayinTech
    • FinTech founded in 2013
    • Managed €44M in flows for 2017, €100M in 2018
    • €5.6M raised
  • Moonshot-Internet
    • InsurTech founded in 2017 by Société Générale
    • €6M raised

CHALLENGES

  • Ongoing expansion strategy. In April this year, Moonshot-Internet partnered with the InsurTech Roadzen, which also provided them with funding to afford this development. They intended to further boost their offer, their expertise and grow internationally.
  • Their goals are similar with PayinTech, as they also look into an additional market (insurance offers applied to means of payment) and another target (sports clubs).
  • This partnership highlights their ability to meet niche needs based on context-relevant, customised insurance premiums.
  • Increasing their offers’ popularity. Moonshot-Internet stresses high goals and their intent to win more customers (400,000 by the end of 2019). To this respect, this start-up now aims for leisure industries, and relies on fun channels to support their prospecting efforts.

MARKET PERSPECTIVE

  • Moonshot-Internet’s offer used to apply to context-based insurance services mostly but, their partnership with PayinTech provides them access to a promising market: diversifying payment media. Smartphones, connected watches, motor vehicles, ticketing and subscription or supporters’ cards are as many day-today objects allowing payments’ validation and they require relevant insurance offer.