Choco Insurance

Company Overview

Snapshot

Founded in March 2021 by Liav Geffen, Eyal Yadin, Uriel Aharony, and Roey Geffen, Choco Insurance operates with 1-10 employees. The company has raised $12.5M across one funding round. In June 2022, Choco Insurance submitted an application for an operating license, signaling its intent to expand its digital insurance offerings.

Business overview

Choco Insurance is developing an AI-based assistant designed to help small businesses and freelancers navigate the complexities of insurance. The company's core technology leverages artificial intelligence to facilitate the selection of appropriate insurance coverage and pricing. Choco Insurance aims to ensure businesses maintain up-to-date coverage and well-organized, accessible filings. It serves businesses across various industries, offering solutions for business owners, property, professional liability, product liability, directors and officers, cyber, and workers' compensation insurance. The company operates within the Fintech & Insurtech sector, specifically focusing on Insurtech, and targets SMBs, SMEs, and freelancers in markets including Italy, the United States, Israel, and Spain.

Strategic signal

In June 2022, Choco Insurance submitted an application for an operating license, indicating a strategic move towards formalizing and expanding its digital insurance operations. This development signals to investors a commitment to regulatory compliance and market penetration, positioning the company for broader reach and increased credibility within the Insurtech landscape.

Company Intelligence Q&A

What is Choco Insurance's primary offering?

Choco Insurance develops an AI-based assistant to help small businesses and freelancers select appropriate insurance coverage and manage their filings.

When was Choco Insurance founded and by whom?

Choco Insurance was founded in March 2021 by Liav Geffen, Eyal Yadin, Uriel Aharony, and Roey Geffen.

What was a key strategic development for Choco Insurance in June 2022?

In June 2022, Choco Insurance submitted an application for an operating license, indicating a move towards formalizing its digital insurance activities.

Which markets does Choco Insurance target?

Choco Insurance targets markets including Italy, the United States, Israel, and Spain.

What was a notable funding event for Choco Insurance?

In October 2021, Choco Insurance was in discussions for an investment from AmTrust Financial Services.