Assurly

About Assurly

Assurly is a French insurtech company positioning itself as a neo-insurer in the loan insurance market. Founded in 2017 by Mickael Benhassen (CTO) and Toufik Gozim (CEO), the company aims to simplify and digitize the process of obtaining and changing borrower insurance. The founders, who previously worked together at Société Générale on complex financial models, identified a need for greater transparency and efficiency in the insurance sector. Gozim has a 25-year background in managing large IT and regulatory projects for major insurance groups, while Benhassen specializes in IT architecture and modeling. Their shared frustration with the slow pace of digital transformation in large corporations spurred them to create their own venture.

The company's core business revolves around providing fully digital loan insurance, primarily for mortgages and student loans. Assurly targets individual borrowers who are often unaware of their right to choose their own insurer or change it during the term of their loan. Its business model is built on controlling the entire value chain and utilizing cloud technologies and machine learning to analyze data, which it claims allows for more personalized and competitive pricing. Revenue is generated directly from the sale of these insurance policies. The process is designed to be mobile-first, allowing users to get a quote in minutes and subscribe without extensive paperwork or physical appointments.

Assurly's main service is a digital platform that offers an all-inclusive loan insurance product. A key feature is the simplification of the underwriting and administrative processes; the company handles the termination of the customer's old contract. The platform promises to include all guarantees required by banks for loan approval, simplifying the comparison process for customers. In July 2021, Assurly raised €6 million in a seed funding round led by Cleverton Ventures and supported by several business angels, including notable figures from the insurance industry like Jean-Pierre Bégon-Lours and Guillaume Sarkozy. This capital was intended to accelerate national growth, develop new product lines, and recruit new talent.