CoInvestor welcome's the investor community to join a virtual pitch on the 27th August from Konsileo, an innovative InsurTech start-up disrupting the existing commercial insurance broking model.
Konsileo is one of the latest EIS single company investment opportunities available on CoInvestor. Taking place on Thursday 27th August at 11:30am, the Konsileo virtual pitch will give you the exclusive opportunity to learn more about the innovative InsurTech and ask questions directly to John Warburton, Konsileo's Founder and Judy Welch, Investment Director of Committed Capital, the lead co-investment sponsor.
The 30-minute event will cover:
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Lead sponsor: Committed Capital Structure: Deal | VC Target raise: £1.65m Sector: InsurTech Min. investment: £15,000 |
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Konsileo is a new tech-led and scalable insurance firm aiming to transform the existing commercial insurance broking model.
Founded by an industry veteran and proven technology leader, Konsileo uses technology and data to improve operational efficiency and enable insurance broking professionals to advise on risk in a more comprehensive and data derived way.
This business is predicable in terms of revenue growth; with premia and turnover driven in a very close relationship with new brokers contractualised.
The company has taken stringent action in response to the COVID-19 lockdown, and impressively, revenues for March, April and May have surpassed forecasts at the all-important £1m annual run rate level. May revenues show a 300% increase over last year’s performance.
In part this strong performance in the first quarter of lockdown is a result of Konsileo’s underlying business model which is perfectly adapted for a working from home environment; in some respects, Konsileo is a bet on the future of work in the insurance broking industry. Equally, insurance contracts are annual and sticky. Most of the underlying insurance classes are needed, in spite of lockdown, and some are contractually required. Looking forward it is worth noting that insurance is currently being repriced, and this normally results in customer turnover. Konsileo should be a beneficiary of such customer turnover.
The Fundraising The company is raising £1.65m by way of an issue of EIS ordinary shares, priced at £3.20 per share, giving a pre the money valuation of £6.2m. Some £1m has been invested to date and we are focused on completing the round so that management may focus exclusively on the business and in particular upon further strong growth as lockdown eases. |
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