Seyna in the insurance market: Current appetite and our expansion strategy

Rodolphe Strauss
July 6, 2021
Seyna is building the insurance platform enabling your company’s growth.

Seyna's Ambition

Seyna is building the insurance platform enabling your company’s growth. To do this, Seyna has two jobs: operating as a risk carrier and bringing all the necessary tools you need to operate an insurance portfolio.

Today, our platform operates only on a part of the P&C market. Our goal is to deploy it on the entire insurance market, following a well defined expansion system.

Since obtaining our licence to operate in December 2019, Seyna has enabled over forty broker partners in their growth. In just 18 months, Seyna has become a key player on the French market. The key to our growth: our expansion method.

We heard your question: "Can Seyna give me visibility on its next verticals, to help a broker plan its next move?”. We want to share our method today - to better collaborate in the long-run.

Our Expansion Method

A "vertical" at Seyna means a type of risk, a segment of the P&C insurance market. We grow vertical-by-vertical. If Seyna enters a new vertical, it is to help brokers earn leadership positions in that market. And therefore Seyna, via our partners, becomes a leading player too. 

But our belief is that if you try to shine in everything, you will excel in nothing. Our DNA is to bring the market-leading service to our partners (fast launch and best insurance solutions, technology to improve your margins, the tools to gain market share). Once Seyna is at that level of service in a vertical, we launch the next.To launch a new vertical, Seyna starts by analysing the opportunity.

We screen approximately 10 criteria: market size, customer needs for Seyna's services, competition, recruitment requirements for specific skills, etc... Once we have decided, we focus on execution.

Our actions are guided by 3 questions:

- Insurance product :
"Do we have the most relevant offering for our partners?"
- Technology :
"Do our solutions have an impact on our partners' business?"
- Sales :
"Do we have a replicable portfolio acquisition method?"

To track our progress, we rely on 3 indicators: the Net Promoter Score, the revenue growth and profitability, the usage of our tech tools. Once Seyna is on its way to become a leader in that vertical, we move on to the next one. 

Where does Seyna stand today?

On the French market, as of July 2021, we operate :
- Motor Guarantees (Mechanical Breakdown, Deductible buy-back) 
- Rental Insurance (Unpaid Rent and Guarantor Products)
- Ticketing Cancellation (Travel, Events)
- Pet Insurance 
- Breakdown/Breakage/Theft (Smartphone, Home appliances, Sport Equipment etc.)

Our ambition is simple: build the best offer and enable our partner brokers towards leadership positions in the market. For any project on these verticals, please reach out to us now here!

What are Seyna’s next steps?

We are constantly scouting the market to define our next vertical. Do you see an opportunity in a particular segment? Contact us now and let's work together to open a new market.

In the meantime, we will keep you updated about the opening of any new verticals.

The Seyna Team

Seyna is hiring

Seyna’s vision is bold - we are building the infrastructure enabling any company to create, sell and manage insurance. Join us!

View open positions