Campaign Year: 2015
Campaign Type: NZ - Equity Crowdfunding
Campaign Duration: 65 days
Amount Invested: N$105,078
N° of investors: 35
Average Investment: N$3,002
% Funded: 105.1%
Mosaic has developed a revolutionary online platform, Volo, which allows insurance products to be sold in the same way Generation Y increasingly wants and expects. Generation Y has the lowest uptake of life insurance of any age group and up to 20% of Generation Y fails to buy travel insurance before departing. Mosaic’s vision is to provide a quick and affordable digital way for Generation Y to buy insurance and incorporate a claims experience which pays out quickly. Mosaic has taken the first step in realising this vision by launching the Volo Lifestyle product, a single insurance product combining many elements of Life, Income Protection, Trauma, TPD and Health insurance, underwritten by Partners Life Limited.
To develop and launch additional insurance products, a mobile app that will provide streamlined claiming, alerts and world-wide assistance and to hire more administration staff, Mosaic sought to raise funds from the Equitise. Through the Equitise platform, Mosaic raised NZ$105,078 from 35 investors for 2.52% equity.
Since obtaining funding, Mosaic has successfully launched Volo Travel, a travel insurance product with worldwide emergency access 24/7 and online claiming, underwritten by Cover-More Pty Ltd, as well as Volo Lock Box, an electronic encrypted storage for customers to store critical documents while travelling. Mosaic has also launched Volo Heartbeat, which is a free service included with the Volo Travel product that gives access to a secure encrypted copy of customer medical records via a mobile app or a web based dashboard.
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