Seyna lands €33m for the future of insurance

Paris-based insurer Seyna has raised €33m in a Series A round led by WhiteStar Capital and Elaia Capital.

Seyna’s current investors Global Founders Capital, Allianz and Financière St James also participated in the round. The deal is currently pending approval by the French supervisor, ACPR.

The company said the capital will accelerate its mission to “build the insurance platform that helps humanity take risks and move forward.”

According to the French insurer, today’s customers perceive insurance as a mandatory purchase and do not trust they will be compensated when they need it more; insurance has lost its “enabler” role.

This is because insurers and brokers are not equipped to support a fast-moving world, Seyna said. The risk management and technology used today isn’t built for speed and change. The legacy infrastructure results in poor customer experiences.

Seyna said it is a platform helping insurance brokers better protect customers and grow their business. The company provides tailored insurance products and software to operate growing brokerage businesses. Using Seyna’s platform, brokers can create competitive insurance products to win market share; build world-class customer experiences for subscription, claims and contract management; and focus on clients, not on admin.

Following the funding, Seyna said it plans to “invest ambitiously” in its software for brokers. The company also plans to make its platform available to more types of risks and geographies. It currently operated on five verticals in France, but Seyna said it wants to expand into event cancellation and health, and start enabling other European companies.

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