Dinghy, a UK-based provider of a flexible insurance product for freelance professionals, raised $1.2m in seed funding.
The round was led by Balderton Capital, with participation from angel investors and ReSolution.
Led by Edward Woodcock, Rob Hartley and Ben Wilks, Dinghy provides a new mobile-first, on-demand flexible insurance product for freelance professionals, which allows them to have lost or damaged equipment replaced within 24 hours – or to receive instant cash payment back.
Dinghy, which has zero fees and 24/7 claims handling service, expects its core market to be made up of tech developers, designers and consultants. The product is designed to insure any freelancers from creative consultants to freelance journalists for their business risks and against equipment damage and theft.
The online solution gives freelancers the opportunity to buy the insurance via a fast process – from quote to claim – with the ability to chat to experts for:
Quotes: With 8 questions, Dinghy can provide quotes in 40 seconds and policies in 90 seconds
Policy changes: a fully online self-service area means customers can update their policy without having to waste billable time on a call listening to hold music
Claims: 24/7 claims reporting and lost or damaged equipment replaced within 24 hours (or instant cash settlement)
Dinghy is an Appointed Representative of ReSolution Underwriting Partnerships and its principal underwriter is Beazley Syndicates at Lloyd’s.
The company’s staff and freelancers are based in London, Guildford, Manchester, Thailand and the Ukraine.