BELOY Company Profile

Background

Overview

BELOY, formerly known as Indeez, is a rapidly growing European insurtech company specializing in embedded insurance solutions. Established in 2020, BELOY operates as a global insurtech broker, offering a technology-driven platform that enables businesses to design, build, and manage embedded insurance programs. The company is headquartered in Paris, France, and has expanded its presence to London, UK, with a diverse team operating across multiple continents.

Mission and Vision

BELOY's mission is to build a resilient future by delivering sustainable, inclusive insurance solutions and expert advice that enable B2C brands and insurers to design embedded insurance, enhancing customer experience and driving growth. The company's vision is to pioneer a future where embedded insurance is seamless and indispensable—empowering brands and communities worldwide through technology that fosters resilience, safeguards livelihoods, and inspires confidence.

Industry Significance

Recognized for its innovative approach, BELOY was named to the 2025 InsurTech100, a prestigious annual ranking that highlights the most innovative technology companies transforming the global insurance industry. This accolade underscores BELOY's role in reshaping the future of insurance through its embedded insurance solutions, enabling businesses to deliver more seamless, digital-first protection to their customers.

Key Strategic Focus

Core Objectives

BELOY aims to redefine protection globally by making embedded insurance simple, intelligent, and accessible—driving innovation, sustainable growth, and a safer, more inclusive future.

Areas of Specialization

The company specializes in providing embedded insurance solutions across several key verticals:

Mobility: Integrating insurance seamlessly into vehicle-related services, including usage-based, subscription, and salary sacrifice models.

Lifestyle: Collaborating with neobanks and fintechs to embed everyday protection into financial journeys, offering products like purchase cover and home protection.

Future of Work: Protecting gig and freelance workers by embedding insurance into the flow of freelance, gig, and creator work, including income protection and health coverage.

Key Technologies Utilized

BELOY leverages a proprietary technology platform designed for scale and simplicity, handling the full insurance value chain—from distribution to claims and payments. This platform is tailored to local languages, regulations, and user expectations, ensuring seamless integration into various ecosystems.

Primary Markets Targeted

The company's primary markets include B2C brands, insurers, and platforms operating in the mobility, lifestyle, and gig economy sectors. By embedding insurance into these services, BELOY aims to enhance customer engagement, satisfaction, and trust.

Financials and Funding

Funding History

In January 2022, BELOY secured $9.2 million in a Series A funding round, exceeding its initial expectations. The financing was led by Elaia Ventures and included contributions from existing investors Mosaic Ventures, as well as notable angel investors such as Andreas Neuber, Christof Kutscher, Chris Varelas, Curtis Scott, Frederic Tardy, Jon McNeill, Julien Codorniou, and Oleg Tscheltzoff. This brought BELOY's total fundraising to nearly $13 million over the past 15 months.

Utilization of Capital

The funds raised are intended to accelerate product and market innovations aligned with BELOY's vision, particularly focusing on addressing the income protection needs of platform workers and expanding the company's embedded insurance offerings.

Pipeline Development

As a technology-driven insurtech company, BELOY's pipeline development focuses on creating and enhancing embedded insurance solutions across its key verticals: Mobility, Lifestyle, and Future of Work. The company collaborates with leading insurers and B2C brands to design, build, and manage these programs, aiming to close urgent protection gaps and help build a more resilient, financially sustainable future for society.

Technological Platform and Innovation

Proprietary Technologies

BELOY's proprietary technology platform is designed for scale and simplicity, handling the full insurance value chain—from distribution to claims and payments. This platform is tailored to local languages, regulations, and user expectations, ensuring seamless integration into various ecosystems.

Significant Scientific Methods

While specific scientific methodologies are not detailed, BELOY's platform utilizes advanced cloud infrastructure and modern tech stacks, including Amazon Web Services (AWS), React, and Google Analytics, to offer scalable, data-driven solutions.

Leadership Team

Key Executives

Vikas Chhariya: Founder & CEO. Vikas has a background in building breakthrough business models at scale and has been instrumental in BELOY's growth and innovation.

M. T.: Head of Product and Revenue Growth. M. T. leads product development and revenue strategies, focusing on expanding BELOY's market presence.

A. R.: Head of Technology. A. R. oversees the technological infrastructure, ensuring the platform's scalability and security.

Leadership Changes

Specific details regarding recent leadership changes or appointments are not available in the provided information.

Competitor Profile

Market Insights and Dynamics

The insurtech sector is experiencing rapid growth, with projections indicating it could reach $152.43 billion by 2030, growing at a compound annual growth rate (CAGR) of 52.7%. This growth is driven by AI adoption and shifting customer expectations.

Competitor Analysis

BELOY operates in a competitive landscape with several notable players:

Hippo Insurance: Founded in 2015, Hippo focuses on modernizing home insurance through technology.

SafetyWing: Established in 2018, SafetyWing offers global health insurance for remote workers and travelers.

Agentero: Founded in 2017, Agentero provides a platform for insurance agents to manage their business and clients.

Emma: A partnership-based company offering insurance solutions.

Ladder: Established in 2015, Ladder specializes in life insurance products.

These competitors vary in their focus areas, technologies, and market approaches, contributing to a dynamic and evolving industry landscape.

Strategic Collaborations and Partnerships

BELOY has formed significant partnerships to strengthen its market position and innovation capacity:

Allianz Partners: Collaborated to provide Vehicle Interruption Cover for Uber drivers in the UK, offering financial support to drivers unable to work due to accidents during Uber trips.

Willis Towers Watson plc: Partnered to enhance insurance offerings and expand market reach.

Operational Insights

BELOY's strategic considerations include differentiating itself through its comprehensive, technology-driven platform that manages the entire insurance value chain. This end-to-end approach allows for seamless integration and scalability, providing a distinct competitive advantage in the embedded insurance market.

Strategic Opportunities and Future Directions

BELOY's strategic roadmap focuses on expanding its embedded insurance solutions across the Mobility, Lifestyle, and Future of Work sectors. The company aims to close protection gaps and build a more resilient, financially sustainable future for society by partnering with leading businesses to address emerging risks.