Howden, the world’s third largest insurance broker, recently executed a strategic investment in Robin. The strategic collaboration will enable the company to present the up to date solution to Howden branches around the world for independent use vis-à-vis suitable clients and via other parties in the insurance and pension value chain
The Robin Insuretech startup, which operates as insurance and pension Digital Broker and developed a Digital Broker as a Service platform, is currently expending its operation to England, Germany and the USA. As part of this deployment, the company has been accepted to Munich Re’s insurtech hothouse. Robin was accepted to the hothouse alongside 39 other companies from around the world.
Robin carried out a strategic change during the past year, the main aspect of which was the move from a customer service app to the sale of licensing the platform developed by it for financial entities using the platform under their own brandname for their existing and new clients. The branded service for digital management of all insurances and pension, is offered as a service to end-customers. The platform is operated via two software systems, the one for managing the app and operating the content and the other is a system for managing professional financial consultant and financial recommendations. The app enables every company to operate a mobile app or a website under its own brandname, connecting with all interested parties in the insurance and long term savings sector, whilst creating a uniform digital commerce experience.
The company started operating in Israel under a B2C model, directly approaching private customers – with an offer to examine their insurance and pension savings portfolio. The company went on to becoming a trading marketplace, within the framework of which it developed an internet portal that enabled connection to Israeli insurance agents who can purchase refferals and offer personal advice to private customers by those agents alongside using the app, with a special tailored interface to the agent being able to be exposed to the customers’ portfolio during his service call. And make additional personalized sales.
The company is now ficousing on its new business model – B2B2C. The aim is to market the platform to institutional entities such as banks, insurance companies, pension funds, credit card companies and brokers around the world, as a white label product, enabling them to give service to their customers.
Howden, the world’s third largest insurance broker, recently executed a strategic investment in Robin, representing in practice the broker’s entry into the pension world. Additional entities that have invested in Robin include Barclays Bank and the Techstars accelerator. The strategic collaboration will enable the company to present the up to date solution to Howden branches around the world for independent use vis-à-vis suitable clients and via other parties in the insurance and pension value chain.
The company won Chief Scientist grants and has so far raised 5 million dollars, and is planning its Round A looking to raise 10-12 million dollars. The company has 18 employees and is cashflow positive.