Societe Generale invests in Czech startup 

Mutumutu aims to simplify customers’ experience and focus on clients’ benefits

Societe Generale

Societe Generale invests in Czech startup. Source: shutterstock.com

Societe Generale Assurances has invested in online life insurance startup Mutumutu nearly €1.1 million.

This investment aims to strengthen the existing partnership with Komercni Pojistovna, the risk carrier of Mutumutu in the Czech market.

Mutumutu was founded in 2018 as an in-house project of the Prague company builder CreativeDock. The company is already providing the Czech market with 3 insurance policies: incapacity to work, disability, and death.

The startup’s business model relies on a prevention program based on a cashback mechanism on the insurance premium, through connection to mobile health apps. What is more, clients are rewarded for an active and healthy lifestyle with up to 30% premium cashback.

Societe Generale Assurances owns a strategic minority stake in Creative Dock, allowing Mutumutu to develop its activity. This way, the startup will be able to triple the number of its clients within the next year.

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

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