Lovys

Lovys is an insurtech company that provides a digital, all-in-one insurance platform. The firm was founded in 2017 by João Cardoso with the ambition of changing the consumer experience in insurance. Cardoso, who serves as the company's CEO, previously started his career in London at Morgan Stanley and co-founded two other startups in Brazil: TaCerto, an insurance comparison website, and VisionX, a B2B2C insurance platform. Lovys also lists Elise Moutarlier as a co-founder. Lovys' business model is centered around a monthly subscription service, allowing customers to bundle multiple insurance policies under a single payment. Lovys operates as a broker, designing the products and managing policies and claims, while partnering with established insurance and reinsurance companies like Generali and MAIF to underwrite the policies. The platform aims to offer transparency and flexibility, allowing users to subscribe, modify, or cancel their policies entirely online. Lovys offers a range of personal line insurance products, including coverage for homes, smartphones, cars, and pets. In October 2019, Lovys acquired Ockert, a startup specializing in AI and fraud prevention algorithms, to enhance its ability to assess costs, automate, and speed up claims processing. The company has expanded its services beyond France into Spain and Portugal. The company secured €400k in pre-seed funding in 2018, followed by a €3.3 million seed round in 2019 from investors including MAIF Avenir, Portugal Ventures, and Plug & Play. In 2021, Lovys raised €17 million in a Series A round with participation from Heartcore, NewAlpha, Raise Ventures, and its previous backers.