Hellas Direct is a digital-first, full-stack insurance company, empowered by cutting-edge technology and artificial intelligence.
Nominated for: Best InsurTech Solution
Hellas Direct is a next-generation direct-to-consumer insurance company founded by Emilios Markou and Alexis Pantazis, two former Goldman Sachs executives who saw an opportunity to disrupt an inefficient Greek insurance market. Hellas Direct has experienced exponential growth during its first four years of operation, even as Greece saw a 25% reduction in GDP and a 40% drop in insurance premia. Modelling itself after Amazon, Hellas Direct aims to revolutionize the insurance value chain by adopting an extreme focus on operational excellence. Like other insurtech start-ups, such as Lemonade, Metromile and Zhong Ahn, Hellas Direct’s lean, more efficient cost structure allows the company to compete head-to-head against traditional insurance powerhouses, offering a better product, at a significantly cheaper price to an under-served consumer. Greek car insurance was only the starting point for Hellas Direct. The company plans to broaden its offering of innovative, by-the-day microinsurance products and to accelerate its international expansion across emerging markets. For this purpose, it raised over 7 mil led by the IFC in a recent series B funding round.