Kingsbridge Group has bought digital freelancer insurance platform, Dinghy.
The UK-based InsurTech is an on-demand insurance platform for freelance professionals, offering flexible insurance policies.
Dinghy provides professional indemnity insurance, alongside equipment cover, public liability, legal expenses and cyber liability coverage. All of start-up’s services are available through its website.
Through the online solution, consumers can receive quotes within just 40 seconds, and policies in 90 seconds. The policies charge lower premiums when the holder is not working, but still offers full coverage.
Dinghy launched in January last year after securing $1.2m funding round led by Balderton Capital.
Kingsbridge is backed by private equity house Dunedin and provides insurance coverage to 50,000 contractors in the UK.
Kingsbridge Group chief executive James Twining said, “The acquisition of Dinghy further broadens our ability to reach into an even wider segment of the important creative and ‘gig’ markets where freelancers demand a different approach to insurance and an improved user experience.
“We are delighted to welcome the Dinghy team into the Kingsbridge family and are very excited to deliver the next phase of growth that they and the Dinghy platform, will deliver for us both in the UK and internationally.”
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