Lovys, adaptive insurance with a monthly subscription

Lovys has raised $3.8M in total. We talk with its CEO Joao Cardoso.

PetaCrunch: How would you describe Lovys in a single tweet?

Joao Cardoso: Lovys is a monthly subscription for all your insurance needs, digital, flexible and tailored to your needs.

PC: How did it all start and why?

JC: We have created two startups before, TaCerto, the first comparison website in South America and VisionX, a broker for insurance companies and real estate agents. Both companies did very well but they haven’t changed much the customer experience in insurance. Lovys answers to 3 main challenges of the industry: the lack of a seamless purchasing, heavy claim management and the absence of a platform that can manage all the users’ insurance contracts.

PC: What have you achieved so far?

JC: The most recent achievement was a record-breaking seeding round of €3.3 million. It gives us the perfect conditions to conquer the French market and become very soon one of the leading insurtechs in Europe. Our time-to-market was also a great accomplishment, we have created 2 products in less than 1 year and managed to create a network of several underwriting partners. Last but not the least the satisfaction that our customers have shown after trying our products.

PC: How will you use your recent funding round?

JC: One of our priorities is to make Lovys the only platform for all the insurance needs of our customers. We want to be the ones protecting everything that matters most in their lives and centralize that in an amazing interface over which they can have full control. To do so, we will launch car and travel insurance this year-round, after having launched smartphone and home insurance. Second, to continue developing the technology we integrate in our products that ensures that we can propose fair prices and to solve any claim in as little time as possible.

PC: What do you plan to achieve in the next 2–3 years?

JC: We want to change the negative perception that most people have towards insurance by scaling up a customer-centric product. We want to transform insurance into something much more relational and where our role is much broader than only assuring someone’s protection.