Copenhagen-based Penni.io snaps up €2 million to help insurance companies open to new online markets
Summary
Danish insurtech firm Penni.io recently announced snapping up €2 million from three top Nordic insurance profiles, with plans to expand their efforts in Europe and beyond. Penni.io, founded in 2016, is helping insurance firms, brokers and distribution partners jump into digitalisation by selling and customizing their products online. Whats more, the insurtech world, global investment doubled to €2.8 billion dollars in 2018 compared to the previous year, showing the huge potential of this sector. Niels Mortensen, who has acted as top management of several Nordic insurance companies like Alka and Codan, and was one of the investors, commented: “They impress by solving a large need for online sales and service through partners. Just like APRIL, most major insurance companies are dependent on legacy IT and software, which can create problems when developing new online ‘plug and play’ sales channels that live up to today’s customers expectations.