Hedosophia is not a household name, and that is by design. The fund is one of the most secretive investors...
Assurance came on my radar courtesy of Financial Technology Partners, which was the investment banker on Assurance's $3.5 billion sale to Prudential. Notably, the company is just 3 years old -- which comes out to a cool billion of enterprise value per year, likely a record comparable to the very few Ant Financials. Depending on the details, this is about $25 million of value per employee. So what does the company do? Simple, really. It is a destination website licensed to sell all types of insurance product (e.g., life, health, auto), with a clean onboarding questionnaire like any other roboadvisor, which then matches against policies on offer from third parties. AI and data science are used as the recommendation engine. It is a Kayak or Money Supermarket of insurance, simply designed, cleverly wired, with killer founders.