Leocare

Leocare is a French insurance provider that distributes and manages personal insurance products through a mobile app and website. Its current product range covers auto (advertised from €14.90/month), home (from €7.87/month), motorbike, student housing, school and pet insurance. Subscription is open to adults residing in metropolitan France who hold a French bank account and can supply the required documents (identity, driving licence, vehicle registration, prior claims record) within 30 days of signing up. Customers obtain a quote in about a minute, can adjust coverage levels and deductibles from the app or web account (changes taking effect via an endorsement 30 days after agreement), declare claims from the app and follow handling and reimbursement in real time. Leocare also handles termination of the customer's previous insurer at no charge and runs a referral programme.

Operationally, Leocare acts as a managing general agent: it partners with several insurance carriers and sells the resulting products under its own brand. At the time of its Series B it said it would keep this model while adding the ability to use its own risk carrier, potentially managing certain products end to end. Product features described in press coverage include a streamlined onboarding flow with price-impact indicators, temporary addition of secondary drivers, and "TakeCare", a feature using open road-safety data to alert drivers entering areas with frequent accidents. The company has also used data signals such as acquisition channel, device model and session time to adjust pricing dynamically.

Auto cover is structured in three tiers — third-party (civil liability, criminal defence and recourse, driver protection, 0 km assistance), third-party plus (adding glass breakage, theft/fire/storm, personal effects, natural and technological catastrophes, terrorism, and an optional purchase-value guarantee) and comprehensive (adding all-accident damage and optional new-value cover for 12, 24 or 36 months) — alongside services such as towing, replacement vehicle, repatriation from abroad and taxi or hotel costs.

Business model

Leocare operates as a managing general agent, partnering with insurance companies and distributing insurance under its own Leocare brand, with premiums collected on monthly subscriptions managed digitally. It stated at its Series B that it would add the option of using its own risk carrier for some products. Coverage adjustments, claims declaration and servicing are handled through the app, supported by in-house advisers reachable by phone, chat, email and social media.

Recurring insurance premiums paid by retail policyholders, advertised from €14.90/month for auto and €7.87/month for home cover. The company reported collecting €1 million of premiums per month in early 2021 and, at the time of its 2021 Series B, targeted €100 million of revenue the following year. It has also considered a marketplace of professionals (for example plumbers) as an additional revenue stream.

Traction

Reported 20,000 customers and €1 million in monthly premiums in January 2021 with 38% month-over-month growth, and 65,000 active customers by November 2021. The company's site claims 350,000 policyholders, 1 million app downloads, more than 8,221 reviews averaging 4.8, and average annual savings of €452 per customer. Headcount was planned to grow from 35 to 80 people during 2021.

Latest developments

Leocare's website carries an announcement that Leocare has joined Belfius Insurance. Its current line-up has broadened beyond auto, home and motorbike to include student housing, school and pet insurance.