June 23rd, 2021
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The Hoggo platform aims to conquer the health and risk insurance market for SMEs
Paris, June 23. Hoggo has announced that it has closed an €11 million Series A round, led by Partech with the participation of its existing investor GFC. The Hoggo platform enables all companies to optimize and simplify the management of their health and risk contracts via a single platform, regardless of the insurer. Its ambition is to become the leading platform for the distribution and management of health and risk insurance.
Founded by Anna Rossin and Louis Fourrier at the end of 2018, Hoggo is tackling group health and risk insurance, a market worth over €34 billion in France. The insurtech is now supporting 2,000 companies, business owners and HR managers who deal with complex administrative and regulatory management on a daily basis, coupled with a generally disappointing customer experience.
Hoggo's promise is three-fold:
● Optimization: find the best price and the best guarantees through a free, digitalized and intuitive marketplace,
● Simplicity: provide companies with an administrative management platform connecting all the players involved (insurers, accountants and companies),
● Independence: offer a simple and easy interface to employees regardless of the insurer chosen by the company.
Personalizing and simplifying insurance thanks to data
Neo-insurance advocates a data-centric approach: it analyzes in real time the situation and demographics of companies, as well as data from thousands of contracts available on the market, enabling them to sign up to the most suitable offer.
By connecting the multiple players involved in health insurance (accountants, insurers, companies and employees), the Hoggo platform automates administrative tasks and facilitates the exchange of information and documents between the various parties.
Integrating all health insurance stakeholders
Hoggo's strategy is to create a virtuous ecosystem that integrates all health insurance stakeholders.
The startup is positioning itself as a partner for accounting firms, enabling them to analyze the social compliance of all their clients' insurance contracts. It currently supports nearly 250 firms.
Hoggo is also a strategic partner for insurers, as the start-up provides the key digital component that they have been lacking until now. By capitalizing on data, the startup helps insurers create new offers. It currently works with more than 40 insurers and income protection institutions, and compares more than 3,000 group insurance offers.
This round of financing will enable Hoggo to double its staff by the end of 2021 and to develop new services for its corporate clients, their employees and its accounting partners.
"SMEs and employers are overwhelmed with time-consuming administrative tasks that prevent them from focusing on developing their business. We created Hoggo to save them time and free their minds while ensuring they pay the optimal price for their insurance," explains Anna Rossin, CEO and co-founder of Hoggo.
"We wanted a more modern, simple approach! I chose Hoggo because everything is made easy for everyone: the comparison of offers is clear, the steps are done in a few minutes. What's more, they ensure that our employees benefit from the best guarantees at the best price every year," says Xavier Rostan, CFO of Alispharm, a company with 330 employees in Lyon.
"Hoggo saw the number of its policyholders triple in 2020. This superb performance presupposes exceptional growth", comments Philippe Collombel, General Partner at Partech. "We are convinced that the market opportunity is significant and have been very impressed by Anna and Louis' ambitious vision and ability to execute. We are delighted to join them on their great adventure! "
Founded in Paris in September 2018 by Anna Rossin and Louis Fourrier, the Hoggo platform optimizes companies' health and risk insurance and simplifies HR administrative procedures regardless of the insurer. Thanks to a fine analysis of data, Hoggo allows their clients to cut the time spent on management by 10 and save an average of 25% on their contracts.
Born in San Francisco and Paris, Partech is one of the most active VCs in the world. Its team of former entrepreneurs and tech operators from 20 nationalities brings together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages. In 2020, Partech invested in 82 startups across 24 countries in Europe, America, Africa and Asia.
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