InsureApp: the world’s first lifestyle-based insurance
InsureApp, part of RISK, is a promising and ambitious new Dutch startup. At InsureApp they truly believe that an insurance should be about the customer. Representing who they are, what their objectives are and what they wish to protect and what they love most. With InsureApp RISK launches the next generation of User-Based Insurance (UBI), specifically based on lifestyle, user behavior and context. Where the current generation of UBI is focused on what happens with the car during a trip, InsureApp focusses on the behavior and context of the driver. The data collected through the app is extended beyond the trip. Contextual information is used in the evaluation of the risk and furthermore to enable additional value added services such as prevention and coaching.
How it works:
By combining and interpreting smartphone sensor data, InsureApp contextualizes human behavior and translates this into “the most personalized insurance on the planet”. They blend with a user’s real-time needs with context and patterns to offer relevant insurances for, for example, travel insurance or an ad hoc on-demand insurance. Their self-learning algorithms predict circumstances and take action when required by providing accurate notifications regarding the possible prevention of loss (e.g. driving behavior) or lifestyle coaching (e.g. work-life balance).
InsureApp will be pushed to an existing client base of 2.000 users. From there the startup will broaden the scope to other on demand insurance categories and initiate an international rollout.
As part of RISK, a well-known Dutch InsurTech service provider and frontrunner in Usage- Based Insurance, InsureApp profits from the strong presence of RISK in the segment of UBI car insurance with brands as “VOOROP” and “fairzekering”. RISK has won the Accenture innovation award 2014 and a nomination for the Dutch Fintech Award.
InsureApp possibilities are endless and wide spread over all insurance categories:
- Car Insurance
- Auto UBI & driver coaching leveraging driver profiling
- From pay-as-you-drive to pay-how-you-drive
- On-demand insurance
- Contextual insurance based on ad-hoc needs
- Home insurance & Assisted living
- Home activity monitoring & real-time risk prevention
- Assisted living & anomaly detection/alerts
- Health & Life insurance
- Health Insurance premiums based on healthy lifestyle
- Well-being monitoring & coaching
They offer both white labelled solutions as well as a full operational solution for international markets.
Why we selected InsureApp for DIA Amsterdam
We selected InsureApp for DIA Amsterdam because it is a promising startup with their introduction of the next generation of User-Based Insurance with an all-and-only mobile customer experience on both iOS and Android platforms.
Jochem Davids, CEO of InsureApp will give a live demo where he will register as a new user, register a car, get instant insurance and show how the app registers behavioral and contextual information.
We are delighted that InsureApp will launch at DIA Amsterdam.
Who are InsureApp?
InsureApp was founded in 2016 by RISK Ventures. RISK is a Dutch insurer, founded in 2000 and has underwriting authority for 18 insurers. The company underwrites over 100 labels and 300 brokers use their systems. RISK has over 4 years of experience in usage-based car insurance (UBI) and has a strong presence in the Netherlands in the segment of UBI car insurance with brands such as “VOOROP” and “fairzekering”.
InsureApp is led by Jochem Davids. Before his transfer to InsureApp, Jochem served as Deputy Director Claims Management at CED, Europe’s leading value specialist. In this role, he was also responsible for the introduction of new technologies such as working with self learning data analytics and the introduction of a fully automated SaaS claims handling platform called Connect Claims.
Jochem Davids, CEO, InsureApp
Presenter: Jochem Davids
Presenter: Marlies Haag