FTV Capital is a growth equity investment firm that has raised over $1.8 billion since its inception to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise solutions, financial services, and payments/transaction processing.  FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth.  FTV also provides companies with access to its Global Partner Network, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for more than a decade.   Founded in 1998, FTV Capital has invested in 86 portfolio companies and has offices in San Francisco and New York.

FTV Capital

Bregal Sagemount, a private capital firm, provides capital and strategic assistance to growth companies. Bregal Sagemount is a private capital firm that provides flexible capital and strategic assistance to market-leading companies in high-growth sectors of transaction situations. Targeted sectors include software, digital infrastructure, healthcare IT services, business and consumer services, and financial technology/specialty finance.  Adam Fuller, Daniel Kim, Gene Yoon, Michael Kosty, and Phil Yates co-founded it in 2012. Its headquarters is located in New York, New York.

Bregal Sagemount

Neptune Flood

Neptune Flood utilizes advanced mapping technologies and aerial remote sensing to create sophisticated algorithms for the risk of flooding. This revolutionary approach to pricing flood risk often results in superior coverage and savings over the National Flood Insurance Program of up to 25%, and is available to households in all designated flood zones. Neptune Flood was founded in 2016 by insurance and technology industry veterans Jim Albert and Bill Martin, with a goal of bringing advanced analytics and extreme ease of use to the flood insurance marketplace. Neptune Flood's policies are currently backed by Lloyd's of London, rated ''A'' (Excellent) by A.M. Best with an issuer credit of A+. Neptune launched its insurance product in early 2017 in Florida, and later in the year achieved the designation of Lloyd's Coverholder with authority to provide flood insurance throughout the US.

Neptune Flood is a digital flood insurance provider for homeowners and businesses; the company specializes in flood insurance solutions for residential and commercial properties. Under Neptune’s residential flood insurance, the company provides dwelling coverage up to USD 4 million, contents coverage up to USD 500,000, and additional coverage for living expenses, basement contents, unattached structures, and pool repair and refill. The company has a waiting period of 10 days for residential flood insurance.

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience

InsurTech: Personal Lines

<div>Neptune Flood is a digital flood insurance provider for homeowners and businesses. Under commercial flood insurance, the company offers solutions to SMEs, commercial buildings, and residential condominium buildings (RCBAP) within a range of flood insurance products tailored to individual needs, including standard policies, excess coverage for properties exceeding NFIP limits, and optional endorsements such as pool repair and fill coverage.</div>

Simplifying the insurance experience for businesses using technology

InsurTech: Commercial Lines

Neptune Flood ups insurance capacity by $300M

AXA Group

AXA renewed and expanded its carrier programs and reinsurance relationships with Neptune Flood.

To expand Neptune Flood Insurance’s capacity to homeowners throughout the US.

Startups that offer homeowners and renters insurance using artificial intelligence (AI) and smart home devices to issue policies and validate claims.

Neptune Flood is a digital flood insurance provider for homeowners and businesses; the company specializes in flood insurance solutions for residential and commercial properties. Under Neptune’s residential flood insurance, the company provides dwelling coverage up to USD 4 million, contents coverage up to USD 500,000, and additional coverage for living expenses, basement contents, unattached structures, and pool repair and refill. The company has a waiting period of 10 days for residential flood insurance.The company uses its patent-pending technology, Triton, which is an AI engine that processes insurance quotes daily, using machine learning and storm surge and inland flood modeling. Triton technology decides whether the coverage can be provided based on 50+ different data elements. It also quotes the price for the specific risk undertaken and determines which reinsurer will provide the insurance coverage. The company claims that through this technology, customers can obtain insurance quotes in less than two minutes. As of December 2023, the company served <a href="https://sp-edge.com/updates/25069">49 states</a> in the US.&nbsp;In May 2024, the company acquired <a href="https://sp-edge.com/updates/29013">Charles River Data</a>, a data science consulting group, to improve its analytical capabilities and enhance its Triton underwriting platform.Key customers and partnershipsIn March 2023, the company partnered with Ecopia AI, a developer of intelligent systems to extract insights from geospatial big data, to integrate Ecopia’s building-based geocoding with the company’s consumer-facing risk underwriting engines. The partnership allows Neptune to further refine and validate the geospatial analysis performed within its AI and ML models, resulting in accuracy in risk selection, pricing, and disaggregation.In July 2022, the company partnered with Strategic Insurance Agency Alliance (SIAA), a national alliance of independent insurance agencies. Through the partnership, SIAA member agencies would have access to Neptune's instant flood solution through SIAA MarketFinder and SIAA's online member-only portal to offer clients flood coverage options.

<div>
 
 Root Insurance is a full-stack insurance provider focusing on usage-based automobile insurance. The company offers a mobile app that collects data on driving speeds, braking patterns, and driving times using smartphone sensors, and applies artificial intelligence (AI) and predictive models to offer a personalized premium to the customer. The company claimed that the latest model utilizes double the proprietary data, demonstrating 17% greater predictive capabilities than the previous model. Moreover, the app incentivizes safe driving by providing greater insight into one&rsquo;s driving patterns and issuing additional discounts for improved driving behavior. Root allows customers to file claims directly through the mobile app. As of January 2024, Root held a carrier license in 48 states and offered automobile insurance in 31 states.
 
 In July 2019, Root launched its renters&rsquo; insurance product and expanded to homeowners insurance in May 2020. The homeowners&rsquo; insurance is provided through a partnership with Homesite Insurance, a Boston-based property and casualty insurer that will underwrite any homeowners insurance policies issued by Root. As of January 2024, the company&rsquo;s renters&rsquo; insurance product was available in 18 states.
 
 
 Key customers and partnerships
 
 
 Root had 259,522 policies in force as of September 2023.
 
 
 Root entered into a partnership with Carvana in July 2022, to offer usage-based auto insurance policies on the latter&rsquo;s used-car online platform.
 
 
 In addition, it had also collaborated with other players in the insurance space to optimize and digitize its insurance services.In January 2021, Root partnered with Tractable, a UK-based provider of AI-based solutions, to leverage its AI Subro solution to optimize Root&rsquo;s end-to-end claims process, starting with subrogation, where two insurance carriers negotiate the division of expenses when multiple parties are involved in a claim. It also partnered with CCC Intelligence Solutions in February 2023, to use its first-party casualty solution to streamline and digitize first- and third-party casualty claims through a single digital workflow.
 
 
 Funding and financials
 
 
 In October 2020, Root sold 26.8 million shares in its initial public offering (IPO), raising USD 724.4 million in the process at a valuation of USD 6.8 billion. In 
 <a href="https://sp-edge.com/updates/8089">
 January 2022
 </a>
 , Root received a five-year term loan of USD 300 million from BlackRock Financial Management (BlackRock) to extend its debt maturity and improve its liquidity position.
 
 
 For the full year of 2022, Root reported total revenue of USD 310.8 million (down 10.0% YoY), while its net losses improved to USD 297.7 million from a loss of USD 521.1 million in 2021. Its gross loss ratio improved to 82.1% from 86.0% in 2021.
 
</div>

Root Insurance

<div>
 
 Hippo is a digital homeowner insurance provider. The company offers its homeowner policies online, with each policy accompanied by a complementary smart home monitoring system that will help identify risks proactively. It provides coverage using a combination of machine learning, satellite imagery, and other public records and actively reviews for any changes to the property overtime.
 
 
 Hippo also provides home insurance to buyers of newly built homes that is directly integrated to the digital mortgage and title process through its Builders business. Further, it launched 
 <a href="https://sp-edge.com/updates/16051">
 Hippo Builder Insurance Agency (HBIA)
 </a>
 in January 2023, to allow builders of all sizes to partner with HBIA to send leads of homeowners in return for a fee.
 
 
 The company also offers an on-demand homecare and maintenance app (Hippo Homecare) which it launched in 2019 following the acquisition of Sheltr, a home maintenance platform, during the same year. It also launched &ldquo;Book a Pro'' feature within its mobile app in Q4 2022, which allows homeowners based in Texas to connect to home improvement professionals as well as message its Hippo&rsquo;s own home care experts to get advice. Hippo also plans to roll-out this feature to other states in the future.
 
 
 In June 2020, Hippo entered into an agreement to acquire long-time insurance partner Spinnaker Insurance Company, which is a property and casualty insurer registered in all 50 states, for an undisclosed amount. The acquisition was expected to help the company expand its geographical reach. The company&rsquo;s homeowner offering was available in 40 states as of January 2023.
 
 
 Key customers and partnerships
 
 
 Hippo had 332,000 customers as of September 2022, and it claimed nearly 75% of its new customers were Gen B.
 
 
 The company partnered with property and casualty risk intelligence company, 
 <a href="https://sp-edge.com/updates/17629">
 Opterrix in April 2023
 </a>
 , to leverage its real-time data on severe weather events to identify at-risk policyholders and improve its claims management capabilities.
 
 
 Funding and financials
 
 
 In November 2020, Hippo raised USD 350 million from Mitsui Sumitomo Insurance company. The company expects to use this funding to support its national expansion plans and also evaluate acquisition opportunities to grow inorganically.
 
 
 For FY2022, the company recorded total generated premiums of USD 811.1 million, which was up 33.8% YoY. Its gross loss ratio improved 62 percentage points to 76% during the year, while its net loss improved 10.2% YoY to USD 333.4 million.
 
</div>

Hippo Insurance

Clearcover is a fully digital automobile insurance provider that offers insurance coverage and claims filing using online channels along with other value-added services such as roadside assistance. The company leverages AI and machine learning models to provide personalized pricing to its customers and validate claims. The company states that it can handle 96% of all claims virtually. Clearcover also launched a <a href="https://sp-edge.com/updates/27767">GenAI-powered claims intake tool</a> to navigate a conversation-driven experience after First Notice of Loss (FNOL) to collect information about an accident. The tool available through its mobile app includes a claims assistant and a real-time customer question resolution feature. It plans to incorporate the tool into its agent portal and website in the future.Clearcover also uses an application programming interface (API) to offer embedded car insurance. This powers <a href="https://sp-edge.com/updates/21232">Choice, </a>an end-to-end embedded auto insurance solution that allows brands to provide auto insurance policy options from various carriers to their customers.As of January 2024, Clearcover offered its policies in 19 states in the US.Key customers and partnershipsIn May 2020, Clearcover partnered with claims management solution vendor Snapsheet to fully digitize its own claims function from First Notification of Losses (FNOLs) to disbursements. Moreover, it collaborated with Experian to offer car insurance on the latter’s insurance comparison site <a href="https://sp-edge.com/updates/18045">in April 2023 </a>. This was part of Clearcover’s strategy to expand its distribution channels.Fundings and financialsIn April 2021, the company raised USD 200 million in a Series D funding round, led by Eldridge, at a valuation in excess of USD 1 billion. The company expects to use the funding toward product development and increasing headcount.For FY2022, the company generated total direct premiums written of USD 140.7 million (up 79% YoY) and recorded USD 61.4 million in net premiums earned. Its net losses amounted to USD 38.7 million for the year, while its loss ratio and combined loss ratios stood at 115% and 158%, respectively.

Clearcover

<div>
 
 Kin offers digital homeowners insurance with personalized policies featuring premiums determined based on an assessment of the property that includes more than 10,000 data points from sources such as property records, government records, and satellite imagery.&nbsp;
 
 
 The company launched its insurance carrier, the Kin Interinsurance Network, in 2019, which operates as a reciprocal exchange (a form of insurance where underwriting profits are shared with customers). As of May 2024, it had a presence in Alabama, Arizona, Florida, Georgia, Louisiana, Mississippi, South Carolina, Virginia, and Texas.
 
 
 In December 2021, Kin acquired an inactive insurance carrier with licenses in 43 states. This acquisition was part of Kin's plan to expand its operations to most US states.
 
 
 Key customers and partnerships
 
 
 As of February 2024, it served over 115,000 policyholders.
 
 
 The company has partnered with Kangaroo, a smart home tech provider, to offer its customers free home security solutions. Additionally, it has collaborated with Cape Analytics, a property analytics provider that utilizes geospatial imagery for property intelligence, and Snapsheet, a claims management platform provider, to automate their internal processes.
 
 
 Funding and financials
 
 
 Kin Insurance was set to go public through a merger with Omnichannel Acquisition Corp., a special-purpose acquisition company (SPAC) in a transaction that valued the company at over USD 1 billion. However, this was terminated in January 2022, citing unfavorable market conditions.&nbsp;&nbsp;
 
 
 In February 2024, the company received USD 15 million 
 <a href="https://sp-edge.com/updates/26317">
 investment
 </a>
 from Activate Capital, with the funds earmarked to accelerate growth by expanding into new markets and developing new products.
 
 
 Kin Insurance recorded gross written premium (GWP) of USD 344.1 million in 2023 (up 50.7% YoY), and generated operating income of USD 5.0 million compared to an operating loss of USD 11.6 million in the prior year.
 
 
 
</div>

Kin Insurance

Ladder is a startup that provides personalized term life insurance online, with coverage ranging from USD 100,000 to USD 8 million. The company uses multiple publicly available data points to determine a customer’s eligibility and in most cases does not require a medical checkup. Ladder provides a home visit medical test for free if required. Ladder’s dynamic approach to life insurance allows policyholders to increase or decrease insurance coverage based on changing life circumstances. Ladder also provides an application programming interface (API) which allows onboarded partners such as other insurance companies, investment firms, and lenders to issue policies from Ladder digitally. The company is licensed to operate in all 50 states. More than 80% of its customers represented first time insurance buyers.Key customers and partnershipsThe company sells its own life insurance policies in California through its carrier, Ladder Life Insurance Company. In New York policies are underwritten by Allianz Life Insurance, and in all other states by Fidelity Security Life Insurance, Amica Life Insurance Company, Lincoln Financial and USA LIfe Insurance.Ladder had collaborated with many financial service institutions to extend its product offering. It partnered with <a href="https://sp-edge.com/updates/25889">Envestnet | MoneyGuide</a>, AmeriSave Mortgage, and Halo Investing, to deliver its digital life insurance to customers through the advisors of the latter.Funding and financialsIn October 2021, the company raised USD 100 million in Series D funding co-led by Thomvest Ventures and OMERS Growth Equity, at a valuation of USD 900 million. The new funds will be directed towards further developing its products and expanding its workforce. As of the same date, the company also reported that its revenue grew by over 4x year-over-year (YoY).

Ladder

Startups in the automobile insurance space, predominantly providing usage-based insurance using telematics devices and/or smartphone sensors.

Startups that provide life insurance through digital channels personalized to an individual’s circumstances and replacing traditional practices, such as medical tests, with data-driven underwriting.

Companies that offer personal line covers for travel and pets through digital channels and use technologies such as flight tracking and online claims processing.

Providers of comparison websites and tools for carriers, agents, and insurers to compare and purchase policies.

Companies that provide personalized health insurance to consumers via digital channels and use technology such as wearable medical devices to monitor health and improve user experience and underwriting.

Companies that offer digital-only insurance for personal belongings (bicycles, mobile phones, laptops, and cameras), providing protection against theft, loss, or damage, with financial reimbursement or replacement.

IoTs used to proactively mitigate risks and offer usage-based insurance

Used for underwriting and claims; infrastructure providers offer AI/ML products to traditional insurers

Uses personal data to underwrite and price personalized policies such as usage-based insurance for vehicles

Limited number of life insurers use genetic/epigenetics to underwrite life insurance

<div>
 
 Neptune Flood is a digital flood insurance provider for homeowners and businesses. Under commercial flood insurance, the company offers solutions to SMEs, commercial buildings, and residential condominium buildings (RCBAP) within a range of flood insurance products tailored to individual needs, including standard policies, excess coverage for properties exceeding NFIP limits, and optional endorsements such as pool repair and fill coverage.
 
 
 Under Neptune&rsquo;s apartment and commercial building flood, the company provides building coverage up to USD 4 million, contents coverage up to USD 500,000, additional coverage that includes business interruption up to USD 25,000, and rental loss of income coverage up to USD 500,000. Under Neptune RCBAP Flood, the company provides coverage up to USD 10 million per building and USD 500,000 for contents. The company has a waiting period of 10 days for commercial flood insurance.&nbsp;
 
 
 The company uses its patent-pending technology, Triton, which is an AI engine that processes insurance quotes daily using machine learning and storm surge and inland flood modeling. Triton&rsquo;s technology decides whether the coverage can be provided based on 50+ different data elements. It also quotes the price for the specific risk undertaken and determines which reinsurer will provide the insurance coverage. The company claims that through this technology, customers can obtain insurance quotes in less than two minutes.&nbsp;
 
 
 As of October 2023, Neptune Flood surpassed USD 200 million in premiums in force, making it the largest private flood insurer in the US and a primary alternative to the National Flood Insurance Program (NFIP).
 
 
 
 
 Key customers and partnerships
 &nbsp;
 
 
 As of February 2024, the company served over 175,000 customers.&nbsp;
 
 
 In March 2023, the company partnered with Ecopia AI, a developer of intelligent systems that extract insights from geospatial Big Data, to integrate Ecopia&rsquo;s building-based geocoding with the company&rsquo;s consumer-facing risk underwriting engines. The partnership allowed Neptune to further refine and validate the geospatial analysis performed within its AI and ML models, resulting in accuracy in risk selection, pricing, and disaggregation.
 
 
 In July 2022, the company partnered with Strategic Insurance Agency Alliance (SIAA), a national alliance of independent insurance agencies. Through the partnership, SIAA member agencies would have access to Neptune's instant flood solution through SIAA MarketFinder and SIAA's online member-only portal to offer clients flood coverage options. 
 
</div>

<div>
 
 Next Insurance provides digital insurance solutions tailored specifically for small businesses. The company&rsquo;s product offering includes a range of insurance policies, including general liability, professional liability, commercial auto, and workers&rsquo; compensation. The company leverages AI and machine learning to streamline the insurance process, claiming to process policy requests within 10 seconds. It incorporates factors such as risk level, location, and other business-specific factors to provide policy proposals.&nbsp;
 
 
 In March 2021, Next Insurance acquired AP Intego, a digital agency specializing in small business commercial insurance. The acquisition was intended to expand Next Insurance&rsquo;s reach to more customers in new business classes. In December 2020, the company acquired Juniper Labs, a startup that automates underwriting for sellers insurance to small businesses, to expand its product offering.
 
 
 
 
 Key customers and partnerships
 
 
 As of November 2023, Next Insurance reported around 500,000 active policyholders, spanning a diverse base of small businesses across various industries, from construction and retail to professional services and fitness.
 
 
 In March 2021, Next Insurance partnered with Amazon to offer insurance solutions to Amazon Prime Business members, providing tailored insurance coverage through the platform​​.&nbsp;
 
 
 In September 2023, Next Insurance partnered with Bold Penguin, an integrated digital solution platform that offers commercial insurance. Through this collaboration, independent insurance agents can access Next Insurance's tailored policies for small businesses, expanding the company's distribution channels.
 
 
 In November 2023, Next Insurance partnered with Allstate and Allianz X. The partnership with Allstate provided Next Insurance&rsquo;s products to Allstate&rsquo;s customers and collaborated on developing a new product for commercial auto insurance. The collaboration with Allianz X aimed to strengthen Next Insurance&rsquo;s reinsurance relationship with Allianz X.
 
 
 In March 2024, it partnered with Tensorflight, a property intelligence platform, to leverage Tensorflight&rsquo;s property data and risk models to enhance Next Insurance&rsquo;s underwriting process. 
 
 
 
</div>

Next Insurance

<div>
 
 Pie Insurance primarily provides workers' compensation to small businesses via an online platform. Pie Insurance uses data and analytics to offer tailored and cost-effective coverage. In addition, Pie Insurance offers commercial auto insurance and a range of supplementary services and products. These include a solution that combines workers' compensation with payroll processing, risk reduction programs, and employer-extended coverages. The company also provides access to an online library of safety training modules and a return-to-work program to facilitate the recovery and reintegration of injured employees.&nbsp;
 
 
 By May 2022, the company had increased its annualized run-rate premium to nearly USD 300 million.
 
 
 In 2023, Pie Insurance transitioned from a managing general agent to a full-stack insurance carrier after it acquired American Insurance Company.&nbsp;
 
 
 Key customers and partnerships&nbsp;
 
 
 Pie Insurance primarily serves small businesses across various sectors, including construction, healthcare, and retail. The company provides its insurance products directly and through partnerships with local, regional, and national insurance agencies. In 
 <a href="https://sp-edge.com/updates/31431">
 July 2024
 </a>
 , the company partnered with Ford to launch a usage-based offering as part of the &quot;Ford Pro Insure&quot; program, a commercial auto insurance solution designed for Ford Pro vehicle fleets.
 
 
 
 As of September 2022, the company had partnered with over 2,800 agencies nationwide. As of May 2024, Pie Insurance has expanded its coverage to 38 states and the District of Columbia.
 
</div>

Pie Insurance

<div>
 
 Zego is a London-based commercial motor insurer that provides flexible insurance products for fleets and self-employed drivers. The company utilizes telematics data and behavioral science to offer usage-based insurance (UBI) policies tailored to each customer's risk profile. Zego also provides B2B UBI for large fleet operators in the areas of private hire, delivery, and logistics. Through its digital-first fleet portal and risk management team, Zego delivers behavioral insights and actions that fleets can take to improve their safety and unlock up to 15% cashback on premiums.&nbsp;
 
 
 Zego's key product differentiator is its ability to optimize fleet performance, cut costs, and improve road safety. According to the company, its customers can save up to 20% on premiums at renewal through proactive risk management and cut annual insurance claims by up to 10%.&nbsp;
 
 
 In December 2020, Zego acquired telematics solution provider Drivit for an undisclosed amount. Zego had an ongoing partnership with Drivit for its telematics-based policies, and aspects of Drivit&rsquo;s platform were embedded into Zego&rsquo;s telematics app, &ldquo;Zego Sense.&rdquo; The acquisition allowed Zego to collect Drivit&rsquo;s data as a first-party partner.
 
 
 In FY2022, Zego reported net revenue of GBP 11.5 million, a slight increase compared to GBP 10.8 million earned in FY2021, while its net loss worsened to GBP 59 million from GBP 36 million over the same period.&nbsp;
 
 
 
 
 Key customers and partnerships&nbsp;
 
 
 The company formed notable partnerships with established insurers to enhance its product offerings. As of May 2024, Zego offered more than 58 million insurance policies and covered more than 500,000 vehicles across five countries. Zego supported fleets and drivers working for last-mile companies like Amazon, Uber, BP, and Deliveroo.&nbsp;
 
 
 In June 2020, Zego partnered with telematics provider ABAX to bundle the latter's offerings with Zego&rsquo;s UBI products for fleet operators. The partnership was extended in August 2023, marking the fourth year of collaboration.
 
 
 In March 2022, Zego signed a multi-year deal with Aviva to provide tailored fleet policies to trades and haulage businesses, enabling it to pair its behavioral insights, data, and telematics capabilities with Aviva's expertise in fleet underwriting and claims.
 
 
 In June 2022, it partnered with Ryde, a last-mile delivery company, to provide auto insurance to the latter&rsquo;s network of over 30,000 couriers (May 2024).
 
 
 In August 2022, Zego partnered with insurance carrier QBE to underwrite its behavior-led fleet product, leveraging telematics data to offer a comprehensive view of a fleet's risk profile. The partnership was further extended in November 2022.
 
</div>

Zego

<div>
 
 Embroker offers a range of insurance products, including directors and officers insurance, employment practices liability, cyber, professional liability, and more. Its digital platform allows businesses to obtain quotes, manage policies, and handle claims online. The company uses predictive, data-driven underwriting models to automate underwriting and improve the accuracy of risk assessment. It claims that its algorithmic-based risk management reduces premiums for businesses by up to 20%.&nbsp;
 
 
 
 
 
 Key customers and partnerships&nbsp;
 
 
 Embroker specifically catered to funded startups, tech companies, law firms, and consultants and served over 40,000 customers as of May 2024.&nbsp;
 
 
 In July 2023, the company announced strategic partnerships with Dashlane, a security-first password management provider, and Cowbell, a cyber insurance provider for SMEs. Embroker aimed to enhance customer security using Dashlane&rsquo;s cyber protection services and expand its cyber liability offering by providing Cowbell Cyber Insurance to existing and prospective customers.&nbsp;
 
 
 In November 2023, the company entered into a strategic partnership with Ascend, a provider of financial operations automation software for insurers. Through this partnership, Embroker aimed to leverage Ascend&rsquo;s technological capabilities to improve operational efficiency and optimize its risk management process.
 
 
 
</div>

Embroker

<div>
 
 Foresight Commercial Insurance (Foresight) focuses on providing workers' compensation insurance specifically designed for safety-critical industries, such as construction, manufacturing, agriculture, and landscaping. The company&rsquo;s approach leverages data-informed underwriting and safety engagement tools to offer tailored insurance solutions​. Foresight claims to differentiate itself through its proprietary safety technology platform, Safesite, which aims to reduce workplace incidents by promoting a culture of safety and proactive risk management. Through this, the company claims to have reduced claims frequency by 17% on average as of August 2023.&nbsp;
 
 
 Key customers and partnerships&nbsp;
 
 
 Foresight serves a range of mid-sized businesses, particularly those in high-risk industries.&nbsp;
 
 
 In July 2023, Foresight partnered with CLARA Analytics, a leading AI platform for claims optimization, to implement CLARA's Triage module. This integration allowed Foresight to proactively manage claims, accelerate claim cycles, and collaborate effectively with third-party administrators (TPAs) in the event of workplace injuries.
 
 
 In November 2023, the company entered into a strategic partnership with QBE North America, allowing Foresight to write policies on QBE's paper, thus extending its reach and capacity and allowing the company to expand into new product lines. 
 
</div>

Foresight Commercial Insurance

Startups that offer insurance covering financial losses from claims of injury or damage caused by the business’s actions or products, including general, product, and professional liability.

Startups offering auto insurance and usage-based insurance products specifically tailored for businesses, including fleet operators.

Startups that provide coverage to protect physical property, including business buildings, inventory, and contents.

Startups that provide coverage for medical expenses and lost wages incurred by employees injured or falling ill while on the job.

Startups offering insurance covering lost income and additional expenses incurred when a business is unable to operate due to covered perils such as fire, natural disasters, or other disruptions.

Companies in the turnkey and value chain infrastructure segments operate under a B2B SaaS

Infrastructure segments provide AI/ML-based products for carriers to use

<div>
 
 Neptune Flood, a digital flood insurance provider for homeowners and businesses, acquired Charles River Data, a data science consulting group. The financial aspects of the transaction were not revealed.
 As a result of the acquisition, Neptune Flood aims to enhance its analytical skills and upgrade its Triton underwriting platform; this is achievable through the significant knowledge of Charles River Data.
 Established in 2021, Charles River Data is a top data science consulting group possessing comprehensive expertise in Big Tech and the academic sector. The firm excels in creating advanced analytical tools and models which aid businesses in utilising data for strategic decision-making process.
 
</div>

Neptune Flood

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