Seyna: a New Genre of InsurTech
FACTS
- A new InsurTech called Seyna –which aims at perfectly matching new economies– just entered the French market.
- Next-generation use cases, sharing economy, neo-mobility, e-commerce, service quality, responsiveness... are as many keywords behind their offer.
- This InsurTech bets on the latest technologies to craft innovative insurance services with help from partner groups; and, these services are adjusted to match consumers’ needs.
- Seyna plans on working with existing industry players: insurance companies, brokers, retailers and even e-merchants.
- In addition to their collaborative model, Seyna complies with the rules and describes itself as an insurer of its own right. They have been granted approval by the ACPR.
- Seyna already features six affinity-based white label products including rental deposits for students, financing offer for affording fees in private schools if unable to attend exams, insurance policies for freelancers’ work tools, or cancellation for event tickets.
KEY FIGURES
- 2018: Seyna project launched
- 11 employees
- €14M raised
- Has been granted support from several groups, including Global Founders Capital, Allianz France and La Banque Postale’s Platform58
CHALLENGES
- Needs-based offers for each key moment. Seyna intends to craft other offers as more partnerships will be implemented, while also keeping in mind insured parties’ immediate and future needs
- Reshaping the European insurance market. Seyna already plans to rely on their European passport to aim for other countries.
MARKET PERSPECTIVE
- Seyna is the second French InsurTech approved by the ACPR: a key step and a guarantee for success considering the progress made by the first approved InsurTech, Alan (whose success on the health insurance sector was confirmed last summer).
- Besides this approval, Seyna was also among the first six start-ups selected by the French insurance federation (FFA) to join their Hub.