Insurate
Insurance technology provider, wholesaler, and managing general agency.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
$4.5m | Seed | ||
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 70 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
Related Content
Insurate is a forward-thinking startup specializing in Workers' Compensation insurance for high-risk industries. Based in Omaha, NE, the company leverages advanced technologies like artificial intelligence (AI) and data science to offer tailored insurance solutions. Insurate primarily serves businesses operating in hazardous sectors, such as construction and manufacturing, where traditional insurance providers often hesitate to venture due to the high risk involved.
The company’s innovative approach involves using AI and data science to assess and underwrite insurance policies. This allows Insurate to reward companies that maintain higher safety standards with lower insurance premiums. By doing so, Insurate not only provides cost-effective insurance solutions but also incentivizes businesses to improve their safety measures, creating a virtuous cycle of enhanced safety and reduced costs.
Insurate's business model revolves around modernized underwriting, compassionate claims handling, and AI-empowered risk control. Unlike traditional methods that may require intrusive employee monitoring or extensive surveys, Insurate’s approach is streamlined and efficient. This makes it easier for businesses to get the coverage they need without unnecessary hassle.
The company generates revenue through the premiums paid by its clients. By offering lower premiums to safer-than-average companies, Insurate attracts a clientele that is both high-risk and safety-conscious. This dual focus allows the company to maintain a profitable business while also contributing to safer workplace environments.
In summary, Insurate is not just an insurance provider but a strategic partner dedicated to the success of its clients. With over 20 years of industry experience, Chief Safety Officer Abby Ferri leads the company’s efforts in providing practical and innovative risk management solutions.
Keywords: Workers' Compensation, high-risk industries, AI underwriting, data science, lower premiums, safety incentives, risk management, modernized underwriting, compassionate claims, strategic partner.