ManchesterStory Group is an early-to-growth stage venture capital firm focused on InsurTech, FinTech, and HealthTech sector. It was founded by Dave Miles and Matt Kinley in 2017 and is based in West Des Moines, Iowa, United States.

ManchesterStory Group

Michigan Angel Fund specializes in investments in angel deals. The fund does not invest in gaming or real estate related ventures. It prefers investing in early-stage start-ups that are at or near revenue. The fund seeks to invest in IT, CleanTech, advanced manufacturing, and health care. The fund invests between $0.2 million to $2 million in its companies. It prefers investing in companies requiring less than $2 million to reach break-even or sustainability. Founded in 2011, Michigan Angel Fund is headquartered in Ann Arbor, Michigan.

Michigan Angel Fund

Service Provider Capital is a venture capital fund that co-invests in series A deals led by institutional venture funds. It was founded in 2014 and is based in Golden, Colorado.

Service Provider Capital

Tappan Hill Ventures is a venture capital firm specializing in seed stage, early growth and rare later stage investments.

Tappan Hill Ventures

Oak HC/FT is a venture and growth equity investment firm that focuses on healthcare information services and financial service technology.   The firm focuses on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, and access to our extensive network of industry leaders. Oak HC/FT partners are peerless in delivering returns for investors and growing innovative businesses. Over the past decade, the partners at Oak HC/FT have had 20 realizations with 6 companies achieving valuations in excess of $1 billion. Oak HC/FT is led by the Healthcare and FinTech team of Oak Investment Partners as part of Oak’s strategy to develop sector-specific funds and continue its legacy of building best-in-class businesses.

Oak HC/FT

Insight Partners is a global software investor that partners with growth-stage technology and software companies. Insight has a deep focus in Fintech, Cybersecurity, AI/ML, DevOps, and Healthcare sectors. Across their people and their portfolio, they encourage a culture around a core belief growth equals opportunity. As of December 31, 2022, the firm has over $75B in regulatory assets under management. Insight Partners has invested in more than 750 companies worldwide and has seen over 55 portfolio companies achieve an IPO.

Insight Partners

Groundspeed Analytics

Groundspeed Analytics accelerates commercial insurance performance with the power of machine learning and artificial intelligence. The Groundspeed platform automatically turns files like submissions, loss runs, exposure schedules, and policy documents into actionable information, empowering users to lower costs, identify profitable pools of risk and drive top-line growth.

Groundspeed Analytics developed API-based solutions that automate the ingestion and enrichment of unstructured risk information in commercial property and casualty (P&amp;C) insurance policy applications. The company's Rapid Fusion technology helped commercial insurers assess and price risk more efficiently compared to traditional manual processes by transforming loss runs, exposure documents, and policy forms into actionable insights. As of June 2022, Groundspeed's annual revenue was between USD 7-10 million. The company experienced significant growth in the second half of 2021, doubling its carrier customer base. In June 2023, Groundspeed Analytics was acquired by Insurance Quantified, a P&amp;C underwriting technology provider. Following the acquisition, both Groundspeed's ingestion and data solution and Insurance Quantified's end-to-end underwriting workbench, SubmissionIQ, continued to be offered separately while expanding their SaaS technology capabilities and data offerings for the commercial P&amp;C industry.

InsurTech: Infrastructure

Insurance Quantified Acquires Groundspeed Analytics, Creating the Leading Underwriting Technology Provider to the Commercial P&C Industry

Travelers Insurance

To simplify new business and policy renewal processes through the use of artificial intelligence (AI), enhancing risk selection and increasing efficiency.

Groundspeed Analytics developed API-based solutions that automate the ingestion and enrichment of unstructured risk information in commercial property and casualty (P&C) insurance policy applications. The company's Rapid Fusion technology helped commercial insurers assess and price risk more efficiently compared to traditional manual processes by transforming loss runs, exposure documents, and policy forms into actionable insights. As of June 2022, Groundspeed's annual revenue was between USD 7-10 million. The company experienced significant growth in the second half of 2021, doubling its carrier customer base. In June 2023, Groundspeed Analytics was acquired by Insurance Quantified, a P&C underwriting technology provider. Following the acquisition, both Groundspeed's ingestion and data solution and Insurance Quantified's end-to-end underwriting workbench, SubmissionIQ, continued to be offered separately while expanding their SaaS technology capabilities and data offerings for the commercial P&C industry.
Key customers and partnerships
Groundspeed Analytics served several major insurance industry players including Aon, Travelers, Liberty Mutual, The Hartford, and Swiss Re. The company's clients consisted of commercial insurance carriers and brokers utilizing their data automation technology.

Insurance Quantified acquires Groundspeed Analytics

Groundspeed Announces Record Growth and Expands Leadership Team

Groundspeed Appoints Andrew Robinson to Board of Directors

Groundspeed Analytics in Ann Arbor Doubles Customer Base, Expands Team in 2021

The Council of Insurance Agents & Brokers Interviews Andrew Robinson

AgentSync develops modern insurance infrastructure solutions that automate and streamline compliance and producer management processes for insurance carriers, agencies, and MGAs. The company's core product offerings include AgentSync Manage, Autopilot, and ProducerSync API, which help validate licensing, appointing, and personal information for insurance producers by connecting with the National Insurance Producer Registry (NIPR). In January 2024, AgentSync launched its first commercially available ProducerSync API, which allows insurance businesses to access and validate NIPR data through REST API architecture. The company's technology reduces manual data entry processes from hours to minutes by using APIs and cloud-native solutions. In 2021, AgentSync acquired Finvera and subsequently acquired eContractPro in 2022. As of December 2021, the company generated annual revenue of USD 29.3 million.
Key customers and partnerships
AgentSync has established strategic partnerships with several industry leaders including the National Insurance Producer Registry (NIPR), Salesforce, Varicent, DocuSign, Verified First, Accurate, and LIMRA LOMA. Veterans United Insurance is among the company's notable customers. The company's platform enables its customers to onboard producers in hours instead of the traditional timeframe of weeks or months.

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 developed a white-label mobility platform for the insurance sector. Their technology generated personalized, usage-based insurance options for the mobility sector, with the platform calculating premiums based on individual user data including driver safety scores, on-demand activation/deactivation, and time or distance driven. The system accounted for occasional drivers and multi-use vehicles, and was designed to integrate with IT systems of insurance companies, OEMs, and Mobility-as-a-Service providers such as ridesharing, ride-hailing, carsharing, e-scooters, and delivery services. The company operated between 2017 and 2023, ultimately ceasing operations in March 2023.
Key customers and partnerships
The company partnered with The Phoenix Insurance Company in Israel to launch 'The Phoenix Drive', a pay-as-you-go private vehicle insurance product. This offering included a web/mobile onboarding sales and underwriting portal for direct customers and insurance agents, back-office interfaces for insurers, and a consumer mobile app. Through this partnership, Bambi Dynamic was also involved in running the InsureMyTesla program in Israel.

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 a Cincinnati-based insurtech company that provides digital small business insurance solutions. Founded in 2018, the company specializes in three main types of business insurance: general liability, business owners' policies, and professional liability coverage. The company employs digital underwriting technology that sources publicly available data to enable instant coverage through a transparent quoting and binding process. Its platform features a qualification checker that indicates within seconds if a business falls within Coterie's appetite. As of June 2022, Coterie's insurance products were available across all 50 states and the District of Columbia. The company's policies are underwritten by Spinnaker Insurance Co. and Benchmark Insurance Co., both of which hold A-rated carrier ratings. The platform uses both ISO and proprietary coverage forms, with all policy documents, certificates, billing, and claims managed through a single dashboard. The system reduces paperwork by 80% compared to traditional methods by eliminating ACORD forms and manual underwriting processes.
Key customers and partnerships
The company serves small and micro-businesses across the US, with a particular focus on businesses with fewer than 20 employees. As of June 2022, Coterie worked with a network of 5,000 agents who provide personalized counsel to small business owners. The company's products are distributed both through independent insurance agents and brokers, and directly to business owners through its digital platform. The business maintains partnerships with Spinnaker Insurance Co. and Benchmark Insurance Co. who underwrite its insurance products.

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

Groundspeed Analytics

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