Zurich based digital insurance manager Knip has raised $15.7m of Series B funding, led by Route 66 Ventures. The company's goal is to digitalize the personal insurance policy management process and assist customers to find the policies that fit their needs. Knip employs a salaried staff of brokers to assist with the discovery process and monetizes via fees paid from insurers it partners with or by taking commissions on new policies.
On investing in Knip, Pascal Bouvier from Route 66 said, “Knip has recognized the trend toward digitization of the insurance industry and therefore fills a gap for the user. We as donors intend to support Knip and promote the success in the future. Not only financially, but also with experience and know-how.” The startup Knip has a team of brokers who work on salary basis, offer advice on insurance products, tariff and services to help optimize insurance plan. The app is completely free of charge allows its user to change tariff and alter the policies. It generate revenue from the fees paid by the insurance companies it partners with or by charging commission for new insurance contacts. With a team of 80 employees, the startup operates in Zurich, Berlin and Belgrade.