Insurteam Secures CHF 700,000 in Seed Funding to Drive European Expansion

14. Januar 2025 | Aktuell Allgemein
Insurteam Secures CHF 700,000 in Seed Funding: Saverio Patimo and Daniel Andres.
Insurteam Secures CHF 700,000 in Seed Funding: Saverio Patimo and Rafal Szumilas.

Insurteam, a pioneering B2B travel insurance technology company, has successfully raised CHF 700,000 in a Seed funding round. The round was spearheaded by Swiss venture capital firm Spicehaus Partners and saw additional support from Insurangels and SICTIC investors. This vital injection of capital aims to bolster Insurteam’s ambitious European expansion, particularly targeting the DACH region, to help travel insurance companies better align with modern customer expectations.

Headquartered in Switzerland, Insurteam stands at the forefront of innovation by leveraging artificial intelligence, data analytics, and multichannel communication to overhaul sales and claims management within the travel insurance sector. The company’s cutting-edge proprietary technology transforms the claims processing landscape, significantly lightening the burden on assistance teams and slashing insurance companies’ claim management costs by up to 80%. Crucially, it also elevates the customer experience, reducing claims processing time from several weeks to just a few minutes.

Empowering Policyholders with Personalized and Efficient Solutions

„Insurteam was founded in early 2024 with the mission to empower policyholders to pay only for what they need while delivering an exceptional claims experience,“ said Saverio Patimo, CEO of Insurteam. „We have achieved impressive commercial results and have built the trust needed to reach this significant milestone. We are deeply grateful to Spicehaus Partners for their support and for leading this round, which has enabled us to meet our funding target and accelerate our European expansion.“

Backing from Industry Leaders

The Seed funding round, expertly led by Spicehaus Partners, marks a crucial endorsement of Insurteam’s groundbreaking approach. „We are thrilled to lead this Seed funding round for Insurteam,“ remarked Daniel Andres, Founding Partner at Spicehaus Partners. „Saverio and his team have showcased exceptional vision and execution, achieving strong initial traction in the expanding travel insurance market. By delivering a superior customer experience and simultaneously reducing claim management costs for travel insurers, their AI-powered solution is positioned to drive substantial demand and growth across the European market.“

Fueling Expansion and Technological Integration

The newly secured capital will be instrumental in bringing Insurteam’s innovative solutions to the wider European market. The company’s technology is designed for seamless integration within online travel agencies and other digital platforms. Insurteam aims to extend the benefits of its technology to all insurance companies serving the travel and leisure market over the coming years.


Tags: #Europe #Expansion #InsurAngels #Insurteam #Seed Funding #SISTIC #Spicehaus Partners