Insurance Startup Sherpa secures $2.3M to deliver biggest change in personal insurance in over 100 years.
Innovative new insurtech, Sherpa announces that it has raised $2.3 million in funding from angel investors in order to change the way personal insurance is delivered.
“We have completely re-thought the way insurance has worked for 100’s of years,” says Chris Kaye, CEO and co-founder of Sherpa.
“Doing away with the concept of the insurance ‘product’ and inventing a new, holistic way of underwriting risk. To traditional insurers, you are just the sum of your policies. At Sherpa, we treat each of our members as a unique person whose risks change all the time.”
Launching in the UK later this year, Sherpa will offer a unique personal insurance account providing its members with unbiased guidance and personalised insurance through a digital, mobile friendly interface.
One account covering a multitude of risks
Sherpa’s seed investors share their vision and commitment to changing the face of personal insurance.
“We are really thrilled that so many experienced insurance and tech investors have decided to back Sherpa. These funds will enable us to expand the already incredible team and invest further in the Sherpa ‘brain’ – the proprietary IP that powers Sherpa,” says Kaye.
“Our investment in Sherpa is an embodiment of our belief in amazing people doing audacious things. Sherpa has assembled a fantastic team of industry veterans. – it’s the best team we have seen in InsurTech,” said Mehrdad Piroozram, an entrepreneur and Partner at InsurTech.vc, of his investment.
Sherpa is building an interface that offers a single personalised insurance account for the modern connected consumer. One account covering all your personal risks coupled with a simple solution for personal risk management that due to its unique subscription model is unequivocally on the consumers’ side.
About the team
Chris Kaye, CEO – Chris has spent most of his career advising insurers, most recently as a Partner and Managing Director for The Boston Consulting Group. Chris decided to put his money where his mouth was and reinvent insurance from the ground up.
Greg McCafferty, CFO – Greg has over 15 years’ experience in financial services, having run equity finance businesses regionally at Deutsche Bank and globally at Macquarie Bank.
Lachlan Gillies, COO – Lachlan comes from over 15 years’ experience in financial services technology.
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