Microinsurance player Stonestep picks up $4M from XL Innovate
The ‘microinsurance as a service’ startup known to some as Stonestep announced it has raised $4 million in a Series A round from XL Innovate. The four-year-old startup partners with corporations in emerging markets to allow them to cross-sell microinsurance products, while it provides them with the software needed to handle all the servicing elements (think: distribution, admin, and claims). Bottom Line: beginning with Asia.
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