Bluezone raises £1.5 million

UK insurance startup Bluezone Insurance announced a £1.5 million seed round led by Insurtech Gateway and AV8 Ventures with participation from Oxford Capital, Portfolio Ventures, and other angel investors.

Founded in 2020, Bluezone will offer life insurance for those living with chronic health conditions. The startup is set to launch a Type 2 Diabetes life insurance product and there’s another coverage in the works for people with heart disease.

“Insurtech Gateway and AV8 Ventures are the ideal partners for Bluezone Insurance; their deep industry expertise, insurance network and track record of de-risking early-stage insurtech businesses from regulatory approvals and insurance capacity clearly differentiates them from other seed stage funds. Collaborating with them will accelerate our process of launching a product into the market and achieving the milestones required for the next investment round. During our fundraising journey, they provided us with ample support, progressed quickly and made introductions to impactful angels and excellent co-investors.” – Dr Karan Mehta, co-founder and CEO of Bluezone Insurance.

“We look forward to helping Bluezone launch its fairer solution for those managing chronic health conditions. Their team has built a next generation pricing model and AI platform based on deep medical insights. We are excited to work together to make it accessible to those in need.” – Stephen Brittain, co-founder, Insurtech Gateway.

“Investing in Bluezone is investing in the next generation of life insurance for people with chronic health conditions. Bluezones’ sophisticated approach to underwriting and pricing is transforming traditional offerings while creating unique value and opportunities, and we are thrilled to be in concert with a team who understands the importance of versatility and personalisation within this space.” – Amir Kabir, partner, AV8 Ventures.