grape secures funding to reinvent employee insurance

Swiss InsurTech grape, which calls itself the neoinsurer for employees, has raised CHF1.7 million in a pre-seed funding round.

The round was led by Swiss venture capital firm Wingman Ventures, with participation also from Tomahawk VC and DD Venture Capital.

grape providers digital employee insurance to enterprise customers. The products are bundled with a B2B SaaS product that the company said saves the insured companies time managing their coverages and claims.

Founded in 2021, grape also claims to be the first insurers to directly reinvest in prevention methods by supporting the health of their customer’s employees, for example by offering paid therapy sessions. In this way, the company said burnouts and resignations can be prevented, and costs lowered.

Gregory Inauen, co-founder of grape, said, “grape is the first employee insurer built around a full-stack technology platform and a relentless focus on being more than just an insurance.”

Lukas Weder, founding partner of Wingman Ventures, added, ”The InsurTech world finds itself still in its early days. However, the insurance sector is one of the largest industries globally that now shows clear signs that new massive businesses can emerge. grape’s approach to fully digitising and automating the underwriting and claims handling process by integrating their technology into their customer’s processes is precisely what insurance customers expect from the next generation of insurance products.”

Earlier this month, Inszone Insurance Services, a provider of benefits, personal and commercial lines insurance, acquired Young Insurance Group.

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