Seyna goes international to support its customers' growth

Paris, 11th September 2024,

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After generating more than €71 million in premiums and quadrupling its revenues over the last 3 years, Seyna is unveiling its international expansion strategy.

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A new step in Seyna's strategy

In 2023 and 2024, Seyna consolidated its position on the French market with strong growth in several key sectors:

• Its affinity insurance business saw premium growth of 49%.
• In the health sector, Seyna has established more than ten new partnerships, with some of the sector's leading names such as April, Soluprev, Yonivers, Veralis, SPVIE Assurances and ACS.
• The unpaid rent and surety lines, as well as animal health, both recorded growth of 26%, with significant market potential yet to be tapped.
  

Seyna today announces a new milestone: its platform is now able to support its customers in their pan-European expansion. Partners such as Phenomen, Dalma, Caarea and Libbela are already benefiting from Seyna's support in Spain, Germany and Poland, and new programmes are in the pipeline. With an average time of 3 months to launch a product in a new country, Seyna will be able to support its partners who have proven themselves in France, on 7 markets by the end of 2024.

Raphaël Sadaka, co-founder of Dalma, comments: ‘Seyna's innovative approach to insurance and risk transfer has enabled us to penetrate the German market with highly differentiating guarantees from the outset. Seyna's responsiveness and actuarial technology have made it a strong ally in rapidly iterating on our rates and products. It is this continuous improvement approach that guarantees the success of our insurance programmes.’

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Investment for the future

Stephen Leguillon, CEO of Seyna, shares the company's vision: ‘Seyna's ambition is to become Europe's leading insurance platform. To achieve this, we are proceeding methodically. After several years focused on our fundamentals, we are starting to expand internationally with our existing customers. We have made the necessary investments to be able to support all pan-European players. We will continue to invest heavily in our international value proposition.’

Matthieu Lattes, Partner at White Star Capital, added: ‘At White Star Capital, we only invest in players with the potential to transform entire sectors on a global scale. What sets projects like Seyna apart is their ability to think bigger and build faster than others. SaaS technology gives Seyna great scalability. What's more, its value proposition is in line with the market's need for responsiveness and innovation. This move into the European market marks the start of a new chapter of strong growth for the company.

With this strategy of international expansion and its solid performance on the domestic market, Seyna is establishing itself as a key player in the European insurance market and is preparing to meet the challenges of global growth.

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About Seyna

Thanks to its platform combining tailor-made insurance products and SaaS (Software as a Service) technology, Seyna enables brokers to focus on what's most important: their customers.

Brokers operating on Seyna can create unique insurance experiences, from the insurance product, to underwriting, to policy management. The platform automates administrative and compliance tasks, freeing up time to focus on customers. What's more, Seyna is an open infrastructure that allows brokers to connect their own ecosystem.

Since its launch in 2019, when Seyna obtained its ACPR approval as an insurer, the platform has convinced more than 100 brokers, including Verspieren, WTW, Meetch, Verlingue and Dalma. They use Seyna to protect nearly two million policyholders. Thanks to a €47 million investment from GFC, WhiteStar Capital and Elaia, Seyna has global ambitions to improve the insurance sector by modernising the design, distribution and management of insurance programmes.

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