Societe Generale invests in life insurance startup Mutumutu

French insurer Societe Generale Assurances has invested $1.2 million in Prague-based online life insurance startup Mutumutu through CreativeDock Insurance Holding (CDIH). Through this investment, Societe Generale Assurances owns a “significant and strategic minority stake” in CDIH.

Established in 2018 as an in-house project of CreativeDock, Mutumutu operates in the space of L&H. Its business model relies on a prevention program based on a cash-back mechanism on the insurance premium, through connection to mobile health applications. Clients are rewarded for an active and healthy lifestyle with up to 30% cashback on policy premiums.

“We will be further promoting a healthy lifestyle. We will add other sports to the mobile application, which will add options to get insurance cheaper and more affordable. We prepare extensions for higher-income clients who want wider coverage.” – Jindřich Lenz, CEO of Mutumutu.

“We support the modernization of life insurance. We are looking for ideas, but also technological maturity and the ability to deliver innovation to the market. Clear insurance with a unique reward for a healthy lifestyle that can be arranged fully online and in a few minutes is unique across Europe and it will inspire the development of the whole sector.” – Ingrid Bocris, Deputy General Manager of Societe Generale Assurances.