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IFC, a member of the World Bank Group, is becoming a shareholder in Hellas Direct, a pioneering Greek startup that is aiming to disturb the countrys insurance industry. The investment will help to diversify Greeces financial sector and make car insurance available to more Greeks.
IFC is investing 3.5 million in Hellas Direct, part of a $7 million equity offering by the company. Hellas Direct is part of a new wave of whats known as insurtech companies. Globally and in Greece, the insurance industry is dominated by traditional brokerage systems. Insurtech companies aim to revolutionize the industry...