Hiro, a UK-based insurtech startup, announced on Tuesday it is planning to seek funds through equity crowdfunding platform Seedrs. The company describes itself as a home insurance challenger that helps customers to actively protect their home using smart technology instead of relying on compensation after a situation. Hiro CEO, Krystian Zajac, further explained:
“Insurance is currently locked in this weird stand-off with customers. where the vast majority of customers don’t trust insurers to pay out, and yet payouts are the number one cost-center for insurers. Hiro is about putting customers and insurers on the same team for the first time – working together to prevent the most common causes of damage, and thereby reducing costs for everyone.”
Hiro further reported that its customers are able to get access to smart technology from over 30 leading brands at members-only discounts via an in-app “smart shop.” They may also use the technology they already own to unlock discounts on their premiums from the outset. The Hiro app scans the customer’s home network to detect the devices they have installed and automatically apply a discount. Hiro also rewards customers for protecting their homes using smart technology like video doorbells, smart cameras, security systems and smoke detectors.
Hiro offers customers up to 25% discount on their policy plus deep discounts to purchase further technology to protect their homes. The pre-registration pledge page is now open on Seedrs, ahead of the full crowdfunding launch on January 18th. Hiro added:
“Investors are being offered the chance to purchase an equity stake in the company from as little as £10, gaining exposure to the £175 billion UK insurance industry as well as the rapidly growing market for smart technology, around £75 billion worldwide and growing at +28.6% year-on-year.”
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