Sure

Sure provides a modular platform that digitizes multiple areas of the insurance value chain. Sure’s distribution module enables the generation of quotes using multiple data points and allows the policyholder to get onboarded instantly and customize coverage. The company’s policy module enables insurers to manage policy documents and carry out other administrative tasks digitally. The company’s claims module provides a fully digital claims platform starting from digital claim filing to disbursement of payments.

In addition, Sure also provides modules to streamline processes with insurance agents and an application programming interface (API) to integrate with other financial reporting and analytics tools. The company also launched Quote Assist, a GenAI tool that allows insurance agents to quickly generate and personalize quotes for consumers during the insurance purchasing process. This is available for all business lines on the Sure Platform.

The company also offers customizable, go-to-market-ready insurance products paired with end-to-end SaaS technology and APIs called Anywhere Insurance. This streamlines the insurance program development process and includes pre-configured products and rules, making the launch process of new insurance products more efficient.

The company also provides its own digital renters insurance product, along with other insurance products for small businesses and travel, with a license to operate in all 50 US states. Additionally, the company provides embedded home warranty solutions to homeowners that are distributed through lenders, mortgage companies, fintech firms, insurance carriers, and insurance aggregators. Landlords can also offer this service by adding it to their rental property management software.

Key customers and partnerships

Companies such as Farmers Insurance, Intuit, Assurant, and Chubb are among the key clients of Sure.

Sure partnered with Esusu, a rent reporting platform, to offer renters insurance to underserved communities through the latter’s Renters Marketplace.

Funding and financials

In October 2021, the company raised USD 100 million in Series C funding, co-led by Declaration Partners and Kinnevik, valuing the company at USD 550 million. The new funds are intended to be used for developing new products and expanding into new markets outside the US, with a specific focus on Europe, Latin America, and Asia. The funds will also be used to expand its engineering team, which it hopes to triple in 2022.

The company claimed that it is profitable and is generating annual recurring revenue in double-digit millions, as of October 2021.