Nov 10, 2022
Meet INZMO one of Europe’s Fastest Growing Insurtech Startups
Executive Summary
We hear from Meeri, who is the co-founder of INZMO (Insurance on Mobile). She co-founded the Berlin-based insurtech which helps to make simple insurance contracts via an app. The simple approach also made them one of the fastest-growing insurtechs in Europe. In the interview we talk about her journey from a corporate lawyer to an entrepreneur, pivoting and founding INZMO. We also talk about how a simple insurance contract via an app could turn 50 bn € sitting on bank accounts productive again. Tune in to learn more.
“Our mantra is that insurance just has to be there, hidden in other products. You only realize it is there when you need it.”
Meeri Savolainen, CEO and Co-Founder INZMO
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“We want to be one of the service providers, … who help you to have a fun, free and flexible live.”
Meeri Savolainen, CEO and Co-Founder INZMO
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“Today we have in Europe 50 bn € sitting [as security deposits for their renters] on landlord’s bank accounts, serving absolutely no purpose”
Meeri Savolainen, CEO and Co-Founder INZMO
The Video Interview is set to go live on Thursday, November 10th 2022
The Audio Interview
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The Founder
Today we’re joined by Meeri Savolainen (https://www.linkedin.com/in/meeri-savolainen-b5a85b25/), the CEO and co-founder of Berlin-based insurtech startup INZMO (https://inzmo.com/de/about/). Meeri is a lawyer by training, and she spent several years working in the corporate world before deciding to start her own company. Her co-founders include Risto Klausen a former professional motorcycle road racer and multiple Estonian and Baltic Champion in the Superbike class, which helped inspire the company’s focus on insurance for bikes. They pivoted from only bikes to providing more offers via the app. Since its launch in 2019, INZMO has become one of the leading apps for mobile insurance in Europe, and Meeri has been named one of the top 10 women to watch in insurtech in 2022. We’re excited to hear more about her story and her company’s success. Thanks for joining us, Meeri!
The Startup
INZMO (https://inzmo.com/de/about/) was born out of the idea to quickly insure a bike via an app (Bike ID). During product presentations of Bike ID the team got feedback, on why they only offer insurance for a bike via their app.
This was the moment INZMO was born. The team relocated to Berlin from Estonia. The company is by now one of the fastest-growing insurtechs in Europe, with a female founder. This makes INZMO the first insurtech company in Europe that offers property insurance for e-scooters and regular bicycles through an app. The whole insurance process takes just a few minutes and is completed entirely online — from signing the contract to making a claim.
Currently available in Germany, and several other European countries with plans to expand further. And with over 30,000 users already on board, it looks like INZMO is well on its way to becoming the go-to insurance provider for two-wheeled commuters across Europe. They currently offer property insurance including to replace of a rental security deposit (Mietkaution), insurance for bicycles, and insurance for cell phones as well as for tablets and laptops.
INZMO already received several awards, including:
- Top 100 global insuretechs award
- Best fintech startup in Europe 2016
- Insurance Shapers Award 2019
Venture Capital Funding
INZMO already raised 7,9 m US$ in seed funding from investors including Helvetia Venture Fund, Change Ventures, UNIQA Ventures, and 500 Global. They are open to talking to new investors for a Series A funding round.
INZMO is Hiring
You can learn more about the currently open positions here:
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Further Readings / Additional Resources
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The Interviewer
This interview was conducted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. Reach out to him:
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All Links and Show Notes
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Topics Discussed in this Interview
In this interview we are talking about insurance, insurtech, mobile insurance, mobile, app, insurtech startups, fastest-growing insurtechs, employment, lawyer, fintech, fintech founder, women in fintech, women in insurtech, female fintech founder, female insurtech founder, Berlin, Estonia, Liechtenstein, venture capital, seed funding, series a funding, female entrepreneurship, hiring, retaining, employee retainment, startup
