Insurtechs are on the rise in France. If Alan and Shift Technology have grabbed the attention in recent months by becoming unicorns, others are also pushing very hard in the background. This is particularly the case with Hoggo. Founded in 2018 by Anna Rossin (CEO) and Louis Fourrier (CTO), this start-up has developed a free marketplace that helps companies find the best health insurance and group provident contracts.
“We use the data to find the health and provident insurance contract that ‘matches’ perfectly with the needs, demographics or activity of companies,” says Anna Rossin, CEO of the start-up.
Partner of insurers
In detail, the company analyzes a range of 3,000 available group health insurance offers. It can then highlight the cheapest or the one that guarantees the most coverage against risks. “We are agnostic concerning insurers,” continues the boss, who says she works “hand in hand” with more than forty players in the sector.
Once a company has chosen a new insurer, Hoggo takes care of everything: terminating the existing contract, setting up the next one, enrolling employees online, etc. “We monitor the rates over time to make sure there is no increase,” she explains.
Insurtech has also developed a platform connecting the actors involved in the insurance contract (client, insurer and accountant, etc.) in order to simplify its day-to-day management. Hoggo mainly targets SMEs / VSEs and surfs on the entry into force of a decree which allows to terminate when desired and free of charge health insurance contracts (for individuals or companies).
The young shoot claims 2,000 customers, including business leaders and human resources managers. Hoggo is remunerated by playing business introducers to insurers. The company does not communicate on its turnover, but claims to have “tripled its income in 2020”.
Offer new services
In order to continue its development, Hoggo has just completed a series A fundraising of eleven million euros led by the investment fund Partech. GFC, which had participated in the previous Hoggo funding round (2.4 million euros), also participated in the operation.
This funding should make it possible to double the workforce – Hoggo has around 40 employees to date – and to offer new services. Objective: to have around 4,000 customers by the end of the year.
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