Insurtech, $ 25 million awarded by League the Canadian startups - InsuranceUp

Insurtech, $ 25 million awarded by League the Canadian startups

The new company is based on health insurance and is focused on digital customer experience, having developed a software to help SMEs to manage employee plans. Among its new investors is included also the leading bank in the country, the Royal Bank of Canada

27 Jul 2016

Stop with the litter! Stop with standard insurance policies. Full speed ahead with the digital transformation and a new customer experience.

League Inc. , the Canadian insurance tech startups, already operating in Toronto and Seattle, in recent days, through an investment operation received 25 million dollars, and, like all startups, wants to shake up its sector.

“We have created League to transform people experience in health care, we want to redefine the health insurance with a digital platform focused on the consumer, reducing costs for employers with digital payments – said Michael Serbinis, co-founder and Ceo.

Serbinis, successful entrepreneur of startups such as the e-book company, Kobo, knows a thing or two and even though his statements make it seem the insurance a means rather than the purpose (as a market) the truth is that the company’s technology is pretty much a software that helps employers of SMEs to manage health care coverage for its employees. A modern and innovative technology: fast, digital, even mobile-first, customer-centric, an asset for the entrepreneur as it transforms (at lower cost) what is normally the tedious processing of a legal requirement (insurance coverage, usually standard without praise or blame) in the possibility to get access to a variety of health & wellness benefit (highly focused on prevention) which have undoubtedly greater appeal. The same employees choose the preferred type of benefit and use it as needed through an app.

Mike Serbinis told Reuters the company now plans to cover the Pacific coast from the state of Washington to Oregon and California. Then it’s up to the Atlantic coast New York, Dallas and Boston.

The investment, which involved, in addition to the Royal Canadian Bank, some of the major Canadian investors as Omers Ventures, Munulife Financial Corp, Power Financial Corp, and Mike Lazaridis’ Infinite Potential Technologies, will serve to fund the growth of the startup.

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