Lille, Paris, Milan, February 10, 2022 - Datafolio, which offers the first pay-as-you-go insurance for all forms of mobility, finalized its first financing round at the end of 2021 for a total amount of €4.3m. Investors include the family office Arjo (Founder of La Financière de l'Echiquier), Eric Huet (Founder of Ventech), Fabio Sbianchi (Founder of Octo Telematics), Arnaud Monnier (Founder of the agency Altima-Accenture Interactive), Valerio Caracciolo, Arnaud Rofidal and Serge Brunschwig.
Datafolio was created in February 2020 by Yuri Narozniak, former member of Groupama Group Executive Committee, and Emmanuel Pierron, former Senior Executive of AXA Group, to offer an insurance solution adapted to the new uses of mobility.
The problem is significant: global warming, pandemics, and digitalization disrupt travel habits (sharing economy, expansion of micro-mobility, etc.). However, the traditional mobility insurance industry, representing 150 billion euros in Europe, is not evolving. Duplicated insurance, fixed prices, exclusions, opacity: the gap between the needs of individuals and the available offerings is widening.
"While data and technology are making it possible to develop a fairer and more transparent insurance industry, most of traditional insurers are struggling to keep pace, with products that remain basically unchanged. This gap creates huge opportunities for a new player like Datafolio as we aim at reinventing the mobility insurance model," says Yuri, CEO of Datafolio.
Datafolio's answer: a smartphone application that insures each individual for its actual mobility use (no trip, no cost), for each of its means of transportation (bike, kick-scooter, motorcycle, car), and according to his real risk exposure (the price per kilometer takes into account driving behavior, type of road, weather, etc.).
Activation of the insurance for each trip is automatic, and all the information regarding risk and pricing is given to the user on a trip-by-trip basis. The contract is open-ended and can be taken out per journey, for one month, or on a rechargeable basis.
Datafolio offers the first “pocket insurance” that truly gives individuals the freedom to protect themselves how and when they wish, at a fair price, transparently, and without any constraints.
"Once the app is downloaded, and the insurance is purchased, trip detection and mobility classification are automatic. Without any action, the insured is automatically covered wherever it goes. In addition, each insured can benefit, kilometer per kilometer, from discounts of 50% if they drive carefully and up to 80% depending on traffic conditions," says Emmanuel, General Manager of Datafolio.
This unique product has been available in Italy since December 2021 and will be available in April in France. It was developed in-house by a team of 17 persons, insurers, engineers, and data scientists (including 6 PhDs from the best EU and US universities), and by relying on renowned international partners, including one of the world's leading insurance companies which carries the risk.
The funds raised have been and will be dedicated to developing the product, marketing it in Italy and France, and enriching the offering and the user experience.
This financing, provided by high-quality investors, validates the company's vision and roadmap and reinforces Datafolio's ambition to offer individuals a fair, transparent, and efficient insurance solution.
About Datafolio
Datafolio is an insurance intermediary registered with ORIAS, founded by Yuri Narozniak, former CEO of Groupama China and Groupama Italy and member of Groupama Group executive committee, and Emmanuel Pierron, former Chief Technical and Claims Officer of Direct Assurances and Chief Data Officer of AXA Global Direct. The company’s Head Office is located in Lille, France, and its 17 employees are spread over three offices, Lille, Paris, and Milan.
The company is supported by Bpifrance, BNP Paribas, Hauts de France region, Hodéfi, Business France, and is part of the EuraTechnologies incubator and is accelerated by Plug and Play Insurtech.
