Prima Assicurazioni S.p.A.

Based in Milan, Italy, Prima Assicurazioni S. p. A. specializes in online insurance solutions for vehicles and residential properties, offering tailored coverage options that enhance user experience and accessibility in the insurance market.

Prima Assicurazioni S. p. A. is an Italian digital insurance company founded in 2013 in Milan.

The firm was co-founded by George Kuruvilla and Teodoro D'Ambrosio, both of whom have previously been involved in other ventures. The company raised EUR 100 million in Series A funding in October 2018, led by Blackstone Group and Goldman Sachs Merchant Banking Division. This round marked a significant milestone, as it constituted the total amount raised by the firm, focusing on technology advancements and strengthening marketing and sales efforts. Prima Assicurazioni S.

p. A. primarily focuses on providing online insurance products tailored for automobiles, motorcycles, and residential properties. The company offers customizable policies that allow users to select specific coverage options according to their individual needs, ensuring a user-friendly experience.

Their insurance services address common concerns such as accident protection, theft, and third-party liability, targeting both individual consumers and businesses. While primarily operating in the Italian market, Prima may extend services to other European countries, promoting convenience through a digital-first approach. In the most recent fiscal year, 2024, Prima Assicurazioni S. p.

A. reported a revenue of EUR 374,998,899. The company's revenue model is structured around direct-to-consumer transactions, allowing customers to obtain quotes and customize their insurance packages online. The company also reported an EBITDA of EUR 113,561,170.

4 for the same year, reinforcing its transactional framework that enhances customer loyalty and optimizes client interactions. Prima Assicurazioni S. p. A.

plans to utilize the EUR 100 million raised in Series A funding to further invest in technology advancements and expand its marketing and sales teams. The company is working on upcoming product launches designed to enhance its online insurance offerings. Additionally, there are plans to expand into new markets beyond Italy, aiming to penetrate other European regions by 2025. These initiatives are part of Prima's strategy to solidify its presence in the digital insurance landscape.