+Simple: the insurance Robo-Broker for Professionals, Freelancers and SMEs
French +Simple provides small businesses with tailor-made solutions to insure all their risks in a few minutes, with their smartphone and their credit card in hand. Use of +Simple is easy: just enter the name of the company and +Simple generates a small and dynamic questionnaire. They typically bundle 5-10 insurance products and services into packaged policies. Customers can sign online, pay online and get back to work, insured. Also, all policy life operations are automated, and a dedicated team manages the claims until resolution.
+Simple grows through partnerships with insurers, brokers and banks. Their live partnerships to date include Allianz, Generali, Marsh, Willis, BNP Paribas.
Their approach to broking operations is quite radical. +Simple’s ambition is to bring e-commerce standards into insurance. They operate their platform with e-commerce KPIs and analytics, and they grow a Machine Learning team to automate their operations and improve customer satisfaction. +Simple disrupts the insurance sales process. Traditionally, insurance sales to SMEs are a mess. They take multiple back-and-forth discussions with insurers and admin costs are high due to low-digitization levels, brick and mortar agencies, large sales admin teams etc. As a result, low premiums SME segments are not addressed profitably.
With +Simple, sales become one-off and cross-sell efforts are automated. Small SMEs become accessible and very profitable for distributors.
How it works
Why we selected +Simple for DIA Munich
+Simple reduces the cost structure in insurance distribution while providing insurers and distributors with an opportunity to leverage Machine Learning to improve their risk selection. It is an opportunity to grow profitably on SME segments and increase customer satisfaction.
+Simple co-founder and Chairman Eric Mignot will pitch on-stage at DIA. He will walk us through a presentation of +Simple and how he sees challenges in insurance distribution.
Who is +Simple?
+Simple was founded in 2015 by Eric Mignot, former MD France at Hiscox, Boursorama Bank and Caixa Bank, Anthony Jouannau, Founder of Condorcet, exited as top 100 French Brokers and Salah Hamida, former Head of Web and R&D at Boursorama.
+Simple has already convinced about 8.000 policyholders, recruited a team of 45 and raised a €10m Series A round in January 2018, led by IdInvest and Anthemis. Their key priority now is international expansion.
”We founded +Simple because we wanted entrepreneurs to buy insurance not under constraint but out of opportunity” .
Eric Mignot, co-founder +Simple
Left: Anthony Jouannau, CEO + Simple
Right: Eric Mignot, Chairman + Simple