Paris-based Little John has raised €1.1 million in pre-seed funding simply weeks after its inception to develop its generative AI platform aimed toward empowering insurance coverage brokers.
This funding spherical included Febe Ventures, Vessoa Non-public Fairness, and neo-insurer Leocare. The €1.1 million spherical additionally consists of contributions from enterprise angels akin to Didier Valet (Common Companion at Varsity), and Mark Ransford, a well known UK investor.
CEO Olivier Legrand defined the startup’s objectives: “We firmly consider that unbiased brokers are the way forward for enterprise insurance coverage brokerage. Nonetheless, to fulfill the business’s transformations, they need to evolve their occupation, and generative AI gives a concrete, speedy reply to this want. At Little John, our ambition is to offer them with the instruments they should stay aggressive, strengthen their privileged relationships with purchasers, and capitalise on their experience. This funding marks a key milestone in executing our imaginative and prescient: ‘Carry Gen AI on the coronary heart of the Providers Unbiased Insurance coverage Brokers’ ship to Corporates’.”
Based in 2024, Little John’s imaginative and prescient is to remodel the position of unbiased brokers in a €1.5 trillion European insurance coverage market dominated by rising complexity and regulatory calls for.
By specializing in operational instruments that help brokers with threat placement, compliance, and productiveness, Little John seeks to handle the mounting pressures confronted by native brokers.
On the coronary heart of this mission is Little John’s first GenAI-powered instrument, set to launch in Spring 2025 on its SaaS platform. This instrument will allow brokers to automate workflows, together with extracting and analysing shopper knowledge from emails and paperwork and producing customised insurer presentation notes.
Early adopters throughout the platform’s “Sherwood neighborhood” can have beta entry by February 2025, providing suggestions to refine the answer’s usability.
A beta model of the answer might be accessible by February 2025 to a number of brokers inside their Design Partnership named the “Sherwood neighborhood” – a gaggle of companion testers. These customers will acquire early entry to the platform and supply suggestions to refine and guarantee its seamless integration and user-friendly AI options are tailor-made to brokers’ day by day wants.
Little John’s founding crew combines experience in insurance coverage and expertise, together with:
- Olivier Legrand, former COO of Brevo and CEO of LinkedIn Asia Pacific, the place he led important income and membership development.
- Grégoire Rastoul, an skilled entrepreneur in insurance coverage brokerage, beforehand COO at Leocare and co-founder of UEX, bought to APRIL Group.
- Pierre Sigwalt, a seasoned CTO with a background in creating tech for insurance coverage, together with roles at APRIL Worldwide and UEX.
- Renaud de Pressigny, Senior Advisor with over 40 years in insurance coverage, holding management roles at main companies together with Marsh and AON.
Little John plans to make use of the funds to develop its GenAI instruments and foster a collaborative ecosystem of brokers who can pool sources and experience to remain aggressive in opposition to bigger gamers.