Eleos insurance

Last updated
Eleos
Eleos logo.svg
Type of site
Insurance Company
Available inEnglish
Country of origin United Kingdom
Key people
URL www.eleos.co.uk
CommercialYes
Launched2023
Current statusActive

Eleos Insurance is a digital insurance provider based in London, United Kingdom, offering life insurance and income protection insurance products. [1] The company was established in 2023. [2]

Contents

History

Eleos was founded by Kiruba Shankar Eswaran, who had previously established Zaask, a local services marketplace in Portugal. [3] In May 2024, the company received £3.25 million in seed funding from investors including Fuel Ventures and Indico Capital. [4]

Products and Services

The company provides two primary insurance products:

Additional services include:

Business Model

Eleos operates through a B2B2C (Business-to-Business-to-Consumer) framework. [9] The company provides insurance services through partnerships with financial institutions. [10]

Funding

A seed funding round in May 2024 raised $4 million, with participation from Fuel Ventures and Indico Capital. [11] The company indicated plans to use the funding for UK market expansion and potential U.S. operations. [12]

Market Context

In industry analysis, Eleos has been referenced in discussions of broader insurance market trends. IFA Magazine included Eleos in its analysis of how legislative changes, such as the assisted dying bill, might affect life insurance underwriting practices across the sector. [13] The company has also been mentioned in property market publications discussing the integration of insurance services with other consumer financial products. [14]


References

  1. ↑ Towner, Lauren (May 7, 2024). "Eleos Secures $4m Seed Investment". FF News | Fintech Finance.
  2. ↑ Marzo, Stefano De (November 2, 2023). "London-based insurtech Eleos raises €700k pre-seed". EU-Startups.
  3. ↑ "Eleos secures £3.25M seed investment". Fuel Ventures.
  4. ↑ "Insurtech Eleos Secures $4 Million in Seed Funding". June 6, 2024.
  5. ↑ "Insurtech Eleos to expand life insurance offering". Cover Magazine.
  6. ↑ "Eleos adds HealthHero's GoGP to protection policies for new customers". Protection Reporter.
  7. ↑ "Eleos raises €3.75M in Seed funding". Tech.eu. May 7, 2024.
  8. ↑ "Eleos expands health benefits offering". Cover Magazine.
  9. ↑ "Education dominant industry in Oxford's workforce". Oxford Mail.
  10. ↑ "Education sector in the top 3 highest percentage of workers in England and Wales". FE News.
  11. ↑ "Eleos Raises $4M in Seed Funding". May 8, 2024.
  12. ↑ "London-based Eleos secures $4m". The Intermediary.
  13. ↑ "Underwriting dignity: how the assisted dying bill may affect life insurance". IFA Magazine.
  14. ↑ "Rent reporting platform reveals growth plans". The Negotiator.
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