Crea assicurazioni

Crea Assicurazioni S.p.A. operates as an insurtech Managing General Agency (MGA) aiming to redesign the insurance policy distribution process. Founded in 2016 in London by Feliciano Lombardi and Mike Galasso, the company established its operational headquarters in Italy to serve the European market. In November 2023, Crea was fully acquired by the French digital insurance brokerage +Simple, a move intended to bolster +Simple's growth in the Italian market and expand Crea's product offerings. Lombardi and Galasso have remained with +Simple to lead development in Italy and abroad.

The company targets professional insurance intermediaries, including brokers, agents, banks, and other businesses, with a B2B and B2B2C model. Revenue is generated through commissions on the policies intermediated through its platform. In 2022, the company handled over 43,000 policies, intermediating €18 million in premiums and generating €5.2 million in commissions. Crea's core offering is a cloud-based, API-driven platform that simplifies and digitizes the entire insurance workflow. This technology enables partners to integrate digital insurance products into their own offerings, significantly reducing administrative costs and streamlining operations. The platform handles everything from client portfolio management and risk underwriting to the final policy issuance, allowing for the creation of customized certificates in minutes. This digital-first approach allows any business to distribute insurance products via cross-selling or up-selling.

A significant milestone was the company's transformation from an S.r.l. (limited liability company) to an S.p.A. (joint-stock company) in February 2022, a strategic decision to enhance its solidity and transparency for partners. Prior to its acquisition, Crea had successfully completed a €2 million funding round in January 2021, with participation from CDP Venture Capital, Digital Magics, and Step, which supported its mission to digitally transform the insurance sector. The acquisition by +Simple provides Crea with the resources to significantly broaden its insurance products for SMEs, self-employed workers, and professionals, further enhancing its digital distribution capabilities. Keywords: Insurtech MGA, digital insurance distribution, B2B insurance platform, policy administration, insurance brokerage technology, cloud insurance solution, API-first insurance, Feliciano Lombardi, Mike Galasso, +Simple acquisition, insurance intermediaries, digital policy issuance, insurance process automation, European insurtech, Italian insurance market, risk underwriting platform, embedded insurance, white-label insurance, commission-based model, insurance software as a service