Zelros provides an AI-powered platform that enables insurers to create personalized insurance policies and predict risk. The platform applies natural language processing technology to data from claims, quotes, voice calls, and other documents to offer contextualized recommendations, while updating customer relationship databases with new information to improve marketing efforts. The platform also allows automation in the areas of underwriting and claim handling with a reported 75% reduction in delays to subscribe to insurance policies.
As of February 2021, the company had issued over 2 million personalized recommendations and the company reportes triple-digit annual revenue growth over the previous two years with 50 employees in Germany and Italy. Zelros counts leading European insurers and insurance brokers such as BPCE, AXA, Crédit Agricole, MAIF, and AssurOne as clients.
In February 2021, Zelros raised USD 11 million in a Series A funding round led by BGV with participation from ISAI Cap Venture and Plug and Play. The company expects to use the funding to expand its geographical presence in Europe and North America. Zelros aims to launch its North American headquarters in the third quarter of 2021, with plans to hire five full-time staff for the new operation by the end of 2021.
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