Health
March 20, 2024
BabySafe Solutions, Winner of the Reavie 2021 Innovation Award, a company with a social and solidarity-based economy mission, has announced that a pool of investors, led by Karista. The venture capital firm which specializes in early-stage investments in healthcare, digital and deeptech, has invested €500,000 in its capital. This first round of financing allows the company to initiate the deployment of the “Birth Deficiency Guarantee” (BDG) on the group insurance market in France.
Founded by a team of 3 professionals, specialists in insurance and brokerage (a doctor, a lawyer, and an actuary), BabySafe Solutions innovates in the group insurance market with B.D.G.* This social and insurance innovation is the first group insurance solution for families affected by the birth of one or more children with a physical and/or physiological functional deficiency; the only insurance related to birth accidents.
At the heart of the Social and Solidarity Economy, BabySafe Solutions has chosen to be a company with a mission and has surrounded itself with a committee, chaired by Anne Juvanteny, which brings together all the stakeholders: families, health professionals, social and paramedical actors, associations and insurers.
The “Birth Deficiency Guarantee” (BDG*) offered by BabySafe Solutions is a group insurance solution for company employees:
– It comes into play when they become the parent of a child or grandparent of a grandchild suffering from a physical and/or physiological disability at birth or the parent of a child born very prematurely,
– It provides customized support according to the needs of the child and the family unit, financed by an indemnity package adapted to each case.
BabySafe Solutions offers a turnkey guarantee to its distribution partners:
– Integrated into existing group insurance policies or through a stand-alone contract,
– White label,
– Including all legal and commercial documents,
– Integrating a complete information system (pricing, contract management, reporting tools with dedicated extranet and financial flow management),
The B.D.G.* allows insurers, brokers and employers to reinforce their commitment to the Social and Solidarity Economy and their social impact.
The Mutuelle Miltis is the insurer of the contract and relies on a pool of reinsurers set up with the help of Guy Carpenter, composed of : Hannover Re, Covea Cooperations, Toa Re Europe.
With this fundraising and the non-dilutive bank support of Bpifrance and La Caisse d’Epargne Rhône Alpes, BabySafe Solutions has acquired top-tier contributors to accelerate its development and thus fulfill its main mission: to be the safe haven for all families traumatized by a birth accident, by providing them with all the necessary medical, administrative and psychological support.
“Through this investment, Karista is demonstrating more than ever its desire to support meaningful projects that meet a need that has not been resolved by existing solutions. This insurance will shake up a sector that has not yet addressed this specific issue. The quality of BABYSAFE’s management team and its strategic positioning in a changing sector seem very promising. By becoming a strategic partner of BabySafe Solutions, Karista is supporting its development with distributors, underwriters, insurance brokers, and risk carriers,” concludes Olivier Dubuisson, Investor and Chairman of Karista’s Management Board.
Denis de Valmont, Medical Director and co-founder of BabySafe Solutions, said: “After more than a year of work, we have the immense satisfaction of presenting La B.D.G.* We were the first to look into whether birth is an “insurable risk”… And it is! From now on, all employees are likely to benefit from this social and insurance innovation, all companies can, for a few euros per year, offer their employees (or co-finance with them) this additional social protection, which protects and accompanies parents in what is one of the worst ordeals that life can impose on us. And I have the immense hope that over the years, this societal innovation will become the norm, and that eventually, all of the 40,000 parents affected each year by the birth of a child with a functional disability will be able to benefit from immediate and unconditional support.”
Karista, is an independent European venture capital firm specializing in “early-stage” investments, particularly in the Digital, Tech and Healthcare fields. Since its creation in 2001, the company has backed more than 90 companies in Europe and generates sustainable returns for its investors. Karista’s team is recognized for its complementarity and network. Karista has signed the Sista collective charter.
Providing for the first breath of life.
BabySafe Solutions is based on the fact that no group insurance solution covers the risk of birth. Families affected by the birth of a disabled child (with a physical and/or physiological deficiency) are often alone and destitute. By offering the first and only comprehensive coverage for birth accidents, BabySafe Solutions finally provides a tailor-made solution for the development and well-being of the child and the family unit. Parents, grandparents, brothers and sisters can therefore devote themselves fully to welcoming this extraordinary child as serenely as possible.
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*in French G.D.N. = Garantie déficience à la Naissance
