Wellington-based JRNY carving out a niche in InsurTech market

The wellington-based company, JRNY, is carving out a niche in the Insurance Technology ("InsurTech") market.

In the last month alone JRNY has racked up a number of accolades, including being named 'One to Watch' by Deloitte at the Fast 50 Rising Star Awards. JRNY was also picked in the top 12 startups globally (in the top four in the Asia Pacific) to pitch at the Digital Insurer's Livefest Finals in November, and has also been named in the "2019 InsurTech100".

The InsurTech100 is a selection of the top 100 pioneering InsurTech companies around the world, recognized for transforming the global insurance industry. A panel of analysts and industry experts voted from a long list of over 1,000 companies produced by FinTech Global, and the finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the insurance value chain. A full list of the InsurTech 100 can be found at http://www.TheInsurTech100.com.

The InsurTech industry has seen huge growth in the last two years as insurance companies grapple with the challenges of digital transformation and new demands from customers. Nearly $10bn has been invested in InsurTech companies since the beginning of 2017.

Compounding to its recent success, JRNY has oversubscribed for its current pre-series A $1m investment round, which will enable them to develop their insurance distribution and sales tools, build out their team and move further into offshore markets. Notable new investors include Stephen Tindall's investment fund, K1W1.

"We're getting international traction now and are working with some of the largest insurers in the southern hemisphere, so we actually weren't all that surprised when we oversubscribed our latest investment round. I'm looking forward to building out our team and product even more as we move further into offshore markets like Singapore and Australia"- Michael Lovegrove, CEO & co-founder, JRNY

Next on JRNY's journey is the Singapore FinTech Festival next month. JRNY is one of 12 New Zealand companies selected to be part of NZTE's New Zealand pavilion at the global conference that will showcase New Zealand FinTech technology on the world stage.