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Greenlight Re Innovations Invests in Australia Property Claims Platform Handdii.

Greenlight Re Innovations Invests in Australia Property Claims Platform Handdii

Greenlight Re Innovations (GRI), a subsidiary of Greenlight Capital Re Ltd., announced it has made a strategic investment in Handdii Pty Ltd., a property insurance claims fulfillment platform.

Melbourne, Australia-based Handdii is reinventing property claim processes by seamlessly pairing insurance companies with contractors and ensuring that all parties involved in the claim process receive real-time updates, said GRI in a statement.

Handdii represents the twelfth strategic investment made by GRI.

Handdii's platform focuses on routine property claims, which, under the traditional insurance model, demand significant time and resources to administer. Handdii's platform significantly reduces both claims handling costs and repair time, while dramatically improving the customer experience, GRI explained.

Handdii's co-founders, CEO Christie Downs and COO Kathryn Wood, each have 10 years' experience in property insurance claims. Wood led the motor and property claims division of one of the largest insurance companies in Australia. Downs, as national sales director of a large construction firm, spearheaded exponential revenue growth while working closely with insurance companies in order to understand their needs.

"Handdii has created a technology platform that bridges the gap between the construction and insurance industries, eliminating the pain points that arise under the traditional model. With experience in both industries, Handdii has identified a solution to a niche problem. We look forward to working with the Handdii team and supporting the platform as it grows," said Simon Burton, CEO of Greenlight Capital Re, a specialist property and casualty reinsurance company headquartered in the Cayman Islands.

"We set out to secure a strategic investor to support the high-speed growth of taking Handdii to a global stage - Greenlight Re Innovations have both the industry expertise and credibility we were after," said Downs at Handdii.

"This capital raise enables great momentum for product development essential for our entry into both the New Zealand and United States markets," added Wood.

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Publication:Insurance Journal
Geographic Code:8AUST
Date:Aug 9, 2019
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