Societe Generale Insurance and Roadzen enter into a strategic partnership to accelerate development of Internet-Moonshot

General Insurance Company, a leading bancassurance in France and Roadzen an international FinTech in mobility and artificial intelligence, announced a strategic agreement to create a European leader in the digital context insurance. This agreement will allow Roadzen take a significant minority stake in Moonshot-Internet, the assurtech General Insurance Company.

Incubated internally within the Société Générale Group and launched in March 2017 Moonshot-Internet, assurtech specialist digital contextual insurance, developing a wide range of affinity insurance solutions. Unique in France and one of the few in Europe, the Moonshot-Internet solution is based on three pillars: technology, data and customer experience. The start-up issues for actors of e-commerce, payment and travel, innovative, modular offerings, as API (Application Programming Interface) available within three months. Moonshot-Internet makes the difference with a predictive data processing, real-time adjustment of pricing and automatic compensation of policyholders without proof, for an experience based on transparency and trust to customers.

Roadzen is an international insurtech created in 2015 that transforms the subscription model and claims management for the insurance market via artificial intelligence. Roadzen has 10 million customers in India, China and the United States.

With this strategic agreement that aims taking a significant minority stake in Roadzen Moonshot Internet-capital, Societe Generale Insurance accelerates the commercial and international development of its start-up, relying on technological expertise and advanced Roadzen geographic complementarities.

Roadzen reality with this partnership agreement structuring its development ambitions in Europe. His meeting with Societe Generale teams Insurance and its Internet-Moonshot assurtech there a year was decisive.

Rohan Malhotra, CEO Roadzen explains: “We were won by the team of Moonshot-Internet, its entrepreneurial spirit and its integrated model with Societe Generale Insurance, which has a strong competitive advantage. Its unique value proposition for consumers in a context of high technological transformation of the world of insurance, can make an Internet-Moonshot insurtech leader. Our visions are complementary and our very similar DNA. The objective of Roadzen is to bring technology, capital and strategic vision of different markets to accelerate the development of Internet-Moonshot. We are very happy prospects that this agreement gives our two companies. ”

“The strength of our business model is to combine the agility of a start-up and integration with a large group to conquer a market of digital pop assurance that in its infancy in Europe but is already established in Asia, “says Alexander Rispal, CEO and co-founder of Internet-Moonshot. “The growth potential is strong. Moonshot-Internet is already on the road to success with a dozen existing partnerships and this agreement opens a new page in its development, “adds Ingrid Bocris, Deputy Director of General Insurance Company and President of Internet-Moonshot.

The strategic alliance between Moonshot-Roadzen Internet and gives birth to the first digital insurtech global dimension with a presence on three continents (Europe, North America, Asia).

“We are proud of this agreement between Roadzen and Internet-Moonshot. Actor already recognized on the insurance markets in the US and Asia, Roadzen will build on its international experience to accelerate Moonshot-Internet growth in the European market. With this new step, Moonshot-Internet aims to anticipate changes in usage and to become the reference partner for contextual digital and insurance in Europe, “said Philippe Perret, Managing Director of General Insurance Company.