Tillit Forsikring raised NOK 11 million more from existing investor Schibsted.

Tillit, an Oslo, Norway-based developed of a dynamic-priced insurance tech product, secured NOK 11M ($1.4M) in a capital investment round.

The money was raised from existing shareholders Schibsted Growth.

Tillit, founded in 2017 by CEO Erik Skaar, works for the development of a digital tool based on the idea of providing dynamically priced insurance premiums, that change slightly each month based on the actual claims ratio of the insurance product. Tillit is an insurer provider for electronic valuables, following a “limited profit model” controlled by dynamic premiums and rewarding claim-free customers.