Paris-headquartered Lyanne, which aims to simplify insurance claims management on behalf of policy holders, has raised €1.2m in seed funding.
According a report by Coverager, the funding was raised from Firstminute Capital alongside 50Partners and several angel investors.
Lyanne was founded with the aim of rebalancing the power between insurers and policy holders, by bringing transparency to the arguably opaque industry.
The French startup explained that “far too many policyholders abandon their claim for compensation from their insurance.” Usually this is because they get discouraged, do not want to endure the wait or the paperwork, or find it too complicated.
The company offers both a free and premium service. The free service features a claim management tool where people can answer a series of questions about their claim and Lyanne will tell them what steps they need to take for filing a claim. The premium services include Lyanne handling the claim.
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