INZMO

INZMO, an insurtech company established in 2015, is making its mark on the European insurance landscape by streamlining the insurance process for consumers and businesses. The company was founded by Meelis Opmann and Risto Klausen, who experienced the cumbersome nature of traditional insurance firsthand after a bicycle accident and a broken phone screen. This frustration fueled their mission to create a more user-friendly and efficient insurance solution. Their combined experience, with Klausen's background in marketing and entrepreneurship and Opmann's in finance and business development, provided a solid foundation for tackling the complexities of the insurance sector.

The company operates with a B2B2C (business-to-business-to-consumer) model, partnering with retailers, telecom operators, and other businesses to embed insurance products directly at the point of sale. This strategy allows INZMO to offer coverage for a range of items such as mobile phones, laptops, bicycles, and electric scooters, making the insurance process a seamless part of the customer's purchasing journey. For instance, when a customer buys a new bicycle, they can get it insured on the spot through an INZMO partner. Revenue is generated through the premiums collected on these insurance policies, shared with their underwriter partners like Helvetia and Baloise.

INZMO's platform digitizes the entire insurance lifecycle, from purchasing a policy to managing claims. This digital-first approach significantly reduces paperwork and processing times. A key feature is its claims management system, which aims to process claims much faster than traditional insurers, often within a short timeframe. The company's solutions have gained traction, particularly in Germany, Austria, and Switzerland, where it has focused its expansion efforts. INZMO has attracted investment from various sources, including a notable €3.1 million funding round in 2020 led by the Helvetia Venture Fund, underscoring the industry's confidence in its model.

Keywords: insurtech, embedded insurance, digital insurance, B2B2C, claims management, consumer electronics insurance, mobility insurance, European market, property and casualty, fintech