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February 1, 2021

Swedish insurtech Greater Than raises more than $16m

Swedish insurtech Greater Than has raised nearly SEK136m ($16.1m) through a directed share issue in a bid to support its growth.

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What will drive the cyber insurance market over the next 3 years?

The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020. It will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19. Our recent report on Cyber Insurance reveals that cybersecurity was thrust into the spotlight in 2020 as COVID-19 forced businesses to digitize their processes and adopt remote working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020. The need for cyber insurance is apparent, but the market is not as easy to navigate as it once was. Use our report to guide and help you to:
  • Benchmark yourself against the rest of the market.
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by GlobalData
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Cuarto, a subsidiary in the Nidoco group, subscribed the entire share issue.

The insurtech plans to use the new proceeds to further scale-up its business and technology, and expedite revenue generation.

Greater Than focuses on providing predictive risk insights on claims frequency and associated costs leveraging artificial intelligence (AI) technologies.

The service helps insurance companies to set better pricing, as well as with smart customer retention and targeted customer acquisition.

The company also offers digital insurance solutions, loyalty programmes and driver gamification, primarily for insurance and new mobility. It counts brands such as MSIG and Zurich as its customers.

Greater Than CEO Liselott Johansson said: “We have a number of collaborations globally with strong momentum in both Europe and Asia. With the capital injection, we’re into invest further in market growth and presence. This is excellent timing for us now to meet the increased demand of AI-based risk insight, and digital insurance and mobility products.”

In June last year, Zurich Insurance extended its partnership with Greater Than for dynamic usage-based insurance offering.

The Greater Than’s product portfolio includes Enerfy Risk Portfolio Tracker, Enerfy Loyalty and Enerfy Insurance Products, as well as other additional services and apps for dynamic pricing and car sharing.

Free Report
img

What will drive the cyber insurance market over the next 3 years?

The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020. It will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19. Our recent report on Cyber Insurance reveals that cybersecurity was thrust into the spotlight in 2020 as COVID-19 forced businesses to digitize their processes and adopt remote working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020. The need for cyber insurance is apparent, but the market is not as easy to navigate as it once was. Use our report to guide and help you to:
  • Benchmark yourself against the rest of the market.
  • Ensure you remain competitive as new innovations and insurance models begin to enter the fray.
  • Prepare for how regulation will impact cyber insurance over the next few years.
Download the full report to understand what to expect and how to align your business for success.
by GlobalData
Enter your details here to receive your free Report.

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