Firstminute Capital is a European seed fund based in London. Moreover, Firstminute invests in European early-stage tech companies. The firm was founded in 2017 by Brent Hoberman and Spencer Crawley.

Firstminute Capital

Y Combinator is a startup accelerator that invests in a large number of startups twice a year. It created a new model for funding startups. Twice a year, the company invests a small amount of money ($150k) in a large number of startups. The startup accelerator works intensively with the companies for three months, to get them into the best possible shape and refine their pitch to investors. Each cycle culminates in Demo Day when the startups present their companies to a carefully selected, invite-only audience.

Y Combinator

Transpose is the simplest platform for structuring data, enabling users to leverage enterprise-level technology in a user-friendly format. Transpose is available across desktop, mobile, and web-based applications. For more information, visit Transpose.com.

Transpose

Precursor Ventures is an early-stage venture capital firm focused on pre-seed and seed investments in North America. The firm focuses on investments in B2B and B2C software applications and hardware. Precursor Ventures has adopted the Diversity Term Sheet Rider.

Precursor Ventures

ClaimSorted

ClaimSorted is a modern claims TPA providing a 5-star claims experience while also reducing operational and indemnity costs through our industry-leading claims team and advanced automation

ClaimSorted is a third-party administrator based in London, UK, specializing in insurance claims processing. Founded in 2024, the company offers outsourced claims management services to insurance providers. ClaimSorted's primary focus is streamlining and automating the claims handling process for various insurance lines, including pet, warranty, gadget, travel, international private medical, home, and auto insurance.

InsurTech: Infrastructure

ClaimSorted raises $3M to expedite insurance claim processing

ClaimSorted is a third-party administrator based in London, UK, specializing in insurance claims processing. Founded in 2024, the company offers outsourced claims management services to insurance providers. ClaimSorted's primary focus is streamlining and automating the claims handling process for various insurance lines, including pet, warranty, gadget, travel, international private medical, home, and auto insurance.The company's Claims Processing and Automation service combines AI with human expertise to handle claims more efficiently. ClaimSorted's platform has automated features such as a customizable electronic First Notice of Loss (e-FNOL) system, automated claim assessments, fraud detection, and a customer-facing claims portal. The company aimed to reduce processing times significantly, potentially enabling payouts within minutes rather than weeks.

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 AgentSync powers growth for insurance carriers, agencies, MGAs, and producers by offering modern tools for producer and compliance management. With a customer-centric design, seamless APIs, and automation, AgentSync's products reduce friction, increase efficiency, and maintain compliance, ultimately helping to improve the broker onboarding, contracting, licensing, appointing, and compliance processes.
 
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AgentSync

Artificial is an insurance software business offering an algorithmic underwriting, data extraction and machine learning platform to commercial insurers, empowering them to write better risks, faster. We provide solutions to partners across the London and global markets, including Convex, Chaucer and more. Our platform specialises in instantly and accurately capturing data at the point of entry for use in downstream applications. We enable clients to augment this data through effortless integrations and use it to write risks algorithmically, build contracts and plug into other systems. Behind the platform is decades' worth of experience in engineering, insurance and analysis. We do more than just provide software; we work with you every step of the journey to make sure our technology drives growth, improves efficiency and reduces costs across your business.

Artificial Labs

Bambi Dynamic, based in Israel, is a SaaS insurance platform that provides vehicle insurance solutions for car OEMs, mobility providers, insurers, and the mobility ecosystem. As a white-label, cloud-based integrated platform, Bambi Dynamic provides an end-to-end solution that includes onboarding, underwriting, user identification, pricing, policy operations, and loss notice. The platform creates insurance products by measuring usage, events, and behavior, using data collected from various sources including smartphones, connected cars, and smart sensors. Bambi Dynamic’s products include personal auto, personal connected auto, fleet insurance, shared and micro-mobility, MaaS for mobility app providers, and autonomous vehicle insurance.

Bambi Dynamic

CLARA Analytics offers an AI-powered insurance claims platform, aimed at improving claims outcomes. Its core claims platform is called CLARAty.ai, which includes generative and predictive AI models developed specifically for casualty claims. Its platform includes several products: 1) Claims Document Intelligent Pro, 2) Triage, 3) Treatment, 4) Litigation, 5) Clara Fraud, and 6) Clara MSP Compliance.&nbsp;&nbsp;<a href="https://sp-edge.com/updates/32243">Claims Document Intelligent Pro</a> is an AI-powered tool that automates the review of claims documents, including legal demands and medical records. It can analyze thousands of pages in seconds, identify key information, and detect treatment patterns to assess risks, improving efficiency and reducing costs.CLARA Triage is an AI tool for claims professionals that predicts claim severity, identifies high-risk claims, and issues real-time alerts to help adjusters act proactively. It improves productivity, reduces costs, and enables faster resolution of simple claims.CLARA Treatment is an AI tool that scores healthcare providers to identify the best options for resolving workers' compensation cases quickly and effectively. It improves claim resolution times, enhances patient outcomes, and reduces costs by matching injured workers with the right providers.CLARA Litigation is an AI tool that analyzes attorney performance and provides insights to reduce the cost and impact of litigated claims. It offers strategic recommendations for case management and helps optimize attorney selection to support decision-making.<a href="https://sp-edge.com/updates/30120">CLARA Fraud</a> is an AI tool that analyzes large workers' compensation datasets to detect suspicious patterns and clusters of potentially fraudulent activity. It increases visibility into suspicious claims, supports SIU referrals, and reduces losses from undetected fraud.CLARA MSP Compliance is an AI tool that automates Medicare Secondary Payer (MSP) compliance by identifying Medicare beneficiaries, determining the need for Medicare Set-Asides, and assisting with mandatory reporting. It reduces compliance risks, improves accuracy, and saves costs in handling Medicare-related claims.In 2023, the company launched CLARAty.ai, a casualty claims intelligence platform using predictive and generative AI to support claims professionals. It provides insights, recommended actions, and advanced claim summaries to guide next steps, enhancing traditional systems and workflows.Key customers and partnershipsIts notable customers include Berkshire Hathaway Homestate Companies, AmTrust, Amerisure, and QBE.&nbsp;Moreover, the company was selected by Amazon in August 2024, as its technology partner to improve health and claim outcomes for its corporate workers' compensation claims.

CLARA Analytics

Coterie Insurance is an InsuranceTech company that applies an API-based approach and modern technology to commercial insurance. It looks to integrate insurance with platforms and processes that businesses, contractors, and gig workers use every day. The company also streamlines the insurance process for its clients. Its core focus remains on small business insurance. Products that it offers include business owners policy, general liability insurance, and professional liability insurance. Coterie Insurance is privately held and a licensed insurance producer in all 50 US states.

Coterie Insurance

Providers of general, yet comprehensive, end-to-end solutions for insurance companies, covering various aspects of their operations. This includes core systems for policy administration, underwriting, claims processing, billing, and customer relationship management

Specialized platforms that offer lead generation and management services and tools for insurance providers. Tools can include telemarketing, internet, and social media lead generation, referrals, and lead analytics

Underwriting platforms that evaluate risks related to life insurance, health insurance, and related products such as disability and critical illness coverage. They may utilize medical underwriting criteria, genetic information, lifestyle factors, and demographic data to assess applicants' insurability

Platforms that specialize in assessing risks associated with property and casualty insurance, including home, auto, commercial property, and liability coverage. They may incorporate data sources such as property valuations, historical claims data, telematics, and weather patterns to evaluate risk factors accurately

Specialized platforms that streamline and automate claims processing workflows, from initial claim submission to settlement. They may offer software for claims intake, adjudication, fraud detection, and communication with policyholders and third-party service providers

Policy administration systems that focus on managing policy lifecycle activities, including policy issuance, endorsements, renewals, and cancellations. They provide insurers with tools to configure and manage policy rules, coverage options, and premium calculations. Platforms can also have additional functions for commission and performance tracking

Reinsurance technology providers offer a range of innovative tools and services to support reinsurers in managing their operations, assessing risks, and optimizing their reinsurance strategies. These solutions may include advanced analytics, catastrophe modeling, risk assessment tools, portfolio management systems, and underwriting platforms specifically designed for the reinsurance industry

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 ClaimSorted, a company specializing in processing insurance claims, has successfully secured USD 3 million in a pre-seed funding round that was oversubscribed. Firstminute Capital spearheaded this funding round, with contributions made by Y Combinator, Precursor Ventures, Transpose, as well as several well-known founders of InsurTech.
 This newly acquired funding will be primarily used to develop a claims service that employs AI for automating processes, while simultaneously aiding insurers with the management of intricate cases. The target of this service is to expedite claim processing times and cut back on mistakes.
 Having been founded in 2024, ClaimSorted operates as a third-party administrator (TPA) that offers an AI-assisted approach to managing insurance claims in order to cut down processing times from a matter of weeks to mere minutes. The company operates across various insurance sectors providing claims processing solutions. Their goals are to enhance the customer experience and assist in reducing the operational expenses borne by insurance firms.
 
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ClaimSorted

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