SCOR-backed insurtech Hokodo launches in France
Insurtech start-up Hokodo has launched in France and partnered with accounting platform Cegid to help protect SMEs against non-payment.
Hokodo serves B2B marketplaces and accounting platforms with small business insurance via easy-to-integrate APIs (application programming interface). The company raised €1.9 million in its seed funding in 2018, and partnered with SCOR Global P&C for its launch product, an invoice protection solution insuring small and medium-sized business owners against the risk that their customers fail to pay an invoice when it falls due.
Louis Carbonnier, co-founder and co-CEO of Hokodo, said: “Each year, hundreds of thousands of European businesses fail as a result of late or non-payment of invoices. Credit insurance solutions to tackle these issues do exist, but they have effectively excluded smaller businesses.
"Hokodo’s mission is to make financial services accessible to everyone, regardless of size. SMEs are the backbone of the French economy, so we are thrilled to launch our business on the French market. We aim to protect 20,000 French businesses before the end of the year.”
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
Stagnating interest rates to hit insurance growth across Europe
Pen Underwriting unveils new CEO as Turner moves to Gallagher
Credit insurance solutions stepping in as volatility bites: Aon
Hudson Insurance Group appoints former ProAg chair
Arch-owned McNeil & Company acquires LOSAP administrator Penflex
Alliant adds Casey Parvey to grow footprint in Pacific Northwest
Global commercial insurance pricing increased 11% in fourth quarter
Carrot boss Ed Rochfort joins IMS as UK’s Trak Global rebrands
Sedgwick and Concirrus partner to bring risk management tool to UK market
Brokers identify ways to increase SME engagement
Three key factors could hit GCC insurers in 2020 – S&P
Cowbell Cyber and Advisen announce data partnership
CFC launches new event insurance package
Inperio and Accredited pioneer extension of UK solicitors’ PI Market
