BriteCo – an InsurTech for the jewellery and luxury watch market – has raised $2m through its seed round.
The company has secured investments from Trunk Club founder Brian Spaly and Taylor Bank’s former chairman and CEO Jeff Taylor.
BriteCo’s platform provides consumers with jewellery and luxury watch insurance from A-rated insurance carrier, HDI global.
The start-up also offers a cloud-based appraisal management system for its partner jewellers.
The InsurTech’s coverage also has no deductible and automatically updates protection each year.
BriteCo was founded by CEO Dustin Lemick who is a third-generation jeweller with thirteen years of experience in the retail jewelry market.
“As a third-generation jeweller, my family and I have a long history delighting customers and helping them celebrate moments of joy in their lives,” said Lemick. “But the jewellery buyer is changing rapidly.
“Millennials now represent the largest jewellery buying demographic, and their expectations are different from those of prior generations. BriteCo helps jewellers by providing them with the optimal blend of online convenience and personal attention.”
Earlier this year Jewelers Mutual Insurance selected photo and video verification platform Truepic Vision to improve its underwriting processes. Last year, the InsurTech pulled in $8m in its Series A round.
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