Virado (Erste Digital)
Allows insurance brokers to sell digitally.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
N/A | Seed | ||
| Total Funding | 000k | ||
| USD | 2021 | 2022 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Erste Digital GmbH, operating under the brand name Virado, serves as a business-to-business platform focused on the distribution of niche and supplemental insurance products. The company primarily targets insurance brokers, pools, and agents, providing them with a digital marketplace to access and sell a variety of insurance policies directly to their customers, ensuring full commission and client protection for the brokers.
The company's business model is centered on empowering insurance professionals by integrating modern sales channels. Brokers can embed Virado's insurance offerings directly into their own websites, social media pages like Facebook, and other digital communication channels such as email newsletters and WhatsApp. This allows for both active and passive income streams. Revenue is generated through the commissions on the insurance products sold through its platform. Virado also offers its technology as a white-label solution to insurance companies, enabling them to onboard smaller partners and expand their distribution networks efficiently.
A key feature of the Virado ecosystem is the development of supplementary applications designed to streamline the insurance sales process. One such tool is Scan2Insure, an app that allows for the instant insurance of a product simply by scanning its barcode. This mobile-first approach highlights the company's focus on leveraging technology to create new sales opportunities. The firm has also developed structured methods for selling insurance policies through social networks, catering to specific online communities and startups that require tailored insurance solutions for their clientele.
Keywords: InsurTech, B2B insurance platform, digital insurance marketplace, niche insurance, supplemental insurance, insurance brokers, white-label insurance solutions, Scan2Insure, social media insurance sales, passive income for brokers, insurance agent tools, embedded insurance, product insurance, digital distribution, affiliate insurance programs, broker technology, online insurance sales, commission-based model, policy administration, InsurTech Germany