Wrisk to Raise £500K via Crowdfunding in Exchange for 6.66% Equity

London-based emerging insurance startup Wrisk is crowdfunding on Seedrs, looking to raise £500K in exchange for 6.66% in equity . BLUF: ~£234K raised, as of 1:17 PM ET.

Established by Nigel Barton and Darius Kumana in 2016, the startup has already raised £3M in a “super-seed” round led by Oxford Capital, with participation from Hiscox and QIC. “Wrisk is flexible insurance that adapts to fit your life. Know what’s covered, why it costs what it does and how to reduce your risk. Built for your phone, Wrisk is insurance made so simple it’s almost unrecognizable.”

Wait there’s more. Think: Wrisk Score, which is kind of like a credit score for personal risk, that will allow for more transparent pricing by gathering data from connected tech.

Bottom Line: its mobile app will launch in Q1, 2018, starting with contents insurance, followed by auto insurance. PS. Wrisk is part of Munich Re’s Digital Partners unit.