Thinksurance, a Frankfurt, Germany-headquartered InsurTech specializing in digital insurance consultations for commercial and industrial clients in Europe, has raised $24 million in new funding.

The capital comes from new investors as well as existing shareholders and will enable Thinksurance to expand its position in the market, according to a company press release. The round was led by international InsurTech specialists Viewpoint Ventures and M-Tech Capital, as well as Venture Capital Fonds Segenia Capital. Existing investor Eight Roads Ventures, a global venture capital firm, and Columbia Lake Partners also participated in the round.

The funding will also enable Thinksurance to continue to expand its platform to cover further aspects of the consultation and distribution of commercial insurance.

“With this funding, we plan to continue to broaden the scope of our offering and value add to our partners,” said Florian Brokamp, CEO and co-founder of Thinksurance, in the release. “Our vision comes down to enabling brokers and insurers to really be able to focus on what they do best as opposed to getting bogged down with time-consuming busy work – ultimately to the benefit of the entire industry and its clients.”

The company, founded in 2015, offers a platform that enables insurance distributors to fully digitalize consultations and policy processes, allowing them to provide insurance solutions for their clients. With its key platform, Advisory Suite, the company provides an omni-channel software for insurance consultations. The technology modularly digitizes the entire consultation process, from needs analysis to binding. In addition, Thinksurance offers insurers and brokers the digitalization of their products and comprehensive data and analysis tools for market-oriented and product and pricing strategies.

Source: Thinksurance