Fenris

Fenris is a data processing and analytics provider. Its solutions include pre-filling of applications, predictive scoring, and customer life events monitoring that are provided via APIs and are catered to the auto, home, life, and small business insurance industries.

Its pre-filling solution allows insurers to streamline and automate the application process by integrating common data gathered from its proprietary data repository. As at May 2022, Fenris’ data repository held data on more than 255 million US adults, 130 million households, and 30 million small businesses.

Its predictive scoring solution uses machine learning algorithms (AI) that incorporate financial predictors, customer performance metrics, and fraud indicators to rank and filter qualified leads and existing clients to generate complete risk profiles for up-selling and cross-selling opportunities. In addition, its life events monitoring solution alerts insurers to a policyholder's requirement for coverage in the event of a change in their life events, such as marriage, the birth of a child, or the sale of a property.

Key customers and partnerships

Fenris partnered with Sureify in June 2022 to incorporate its life events monitoring product to the latter’s life insurance platform to help monitor and improve customer relationships. In addition, the company partnered with InsuranceGIG (May 2022) to list its products on the latter’s API marketplace for insurance companies, through which it aimed to improve its sales channel and expand its customer base.

Funding and financials

Fenris raised USD 1.7 million in seed funding in July 2019 led by SixThirty, with the round extended by an undisclosed amount in May 2020 by CIT GAP. In addition, it secured an investment fromVirginia Venture Partners in January 2023, although the terms of the transaction were not disclosed.