Insurtech was one of a large VC bets of 2017, and that looks set to continue into a new year as startups mark gaps in a word market.
Continuing this trend is Dinghy, a new startup that offers “flexible” word for freelance professionals, all delivered and managed by a mobile app. Officially rising today, a London-based association is also disclosing $1.2 million in seed appropriation led by Balderton Capital, with appearance from unnamed attention angel investors, and word investment association ReSolution.
Aimed essentially during tech developers, designers and consultants, though able of insuring any freelance professional, Dinghy offers a apartment of word cover. This includes veteran indemnity, apparatus cover, open liability, and cyber liability. The latter is designed in box patron information we hoop is mislaid around a cyber attack.
But a company’s pivotal differentiator is being mobile-first and some-more stretchable than normal word products in this space.
“Traditional word is a delayed and vapid process, that is not designed for freelancers,” says Dinghy co-founder Rob Hartley. “Also, normal insurers do not give freelancers a ability to change their word when they are not working, so freelancers possibly compensate for coverage they don’t need, or worse, cancel their routine and chuck divided a word coverage they only paid for”.
In contrast, says Hartley, Dinghy is built from a ground-up by freelancers (with over 39 years word and tech experience) for freelancers, and a ensuing product enables cover to be practical for and managed all online by a Dinghy app. This includes creation changes to your routine with 0 admin fees.
“Freelancers can change their operative standing to save income on their word when they are not operative though keep their word protection,” he explains.
In addition, a claims routine is accessible online 24 hours a day, so we don’t need to wait on reason to make a claim. This also means 24/7 claims doing for equipment, that sees Dinghy committed to replacing apparatus within 24 hours of notification. If that isn’t possible, a startup says it will yield an present money allotment so we can source what we need as fast as possible.
“We know that freelancers rest on their apparatus to work, so we wanted a resolution to accommodate their expectations of being served as fast as possible,” says Hartley. Perhaps wise a aim customer, who themselves are someday chasing payment, Dinghy also charges in arrears.
Adds a Dinghy co-founder: “We expect a categorical business to be tech professionals, government consultants and designers who are driven to buy word by work contracts. However, we wish to strech out to a artistic industries who typically do not buy word as it’s unpleasant and confusing; and uncover them that there is a improved approach to protection their business risks”.
As for what other word products competence be next, Hartley doesn’t wish to give too most away, lest he warning competitors. However, apparent holes embody collision or illness cover, late or delinquent invoices, and transport insurance.
Meanwhile, Balderton Capital partner Rob Moffat reckons a normal word indication doesn’t yield a affordable and stretchable cover that many freelancers need to fit their possess stretchable approach of working.
“There is a outrageous event for a association that offers Professional Indemnity and other policies on a ‘pay as we use’ model, that a Dinghy founders know deeply by their singular multiple of word and freelance experience,” he says.