Envelop Risk

Overview
News
Cyber Insurance?
Product stageSegments
Early
?
Cyber risk modeling
?

Bristol-based Envelop Risk offers AI-based underwriting and cyber risk modeling services for insurers to price cyber insurance policies. Cyber-tooth, the company’s proprietary machine learning model can assess over 2,000 attributes for each company and has a database of more than 3 million insurance policies to use as a reference for assessing losses. The model can provide insurers with assessments of factors such as occurrence probabilities, loss tables, and value at risk.

In combination with its underwriting technology, the company also provides cyber reinsurance capacity for insurers with a maximum limit of USD 50 million along with white-label solutions for insurers to build a cyber insurance product based on Envelop Risk’s underwriting technology.

Key customers and partnerships

In September 2023, Envelop announced a new partner program, Cyber Partnership Platforms, to enable cyber insurance cedents to enter the reinsurance market. The company also announced a partnership with Lloyd’s of London reinsurer Apollo to launch a special purpose arrangement specializing in cyber reinsurance.

Funding and financials

In September 2021, Envelop Risk raised USD 130 million in Series B funding led by SoftBank Vision Fund 2. The company expects to use the funding to expand its underwriting operations in London and Bermuda along with growth into new markets globally and in products other than cyber insurance.


HQ location:
Bristol GBR
Founded year:
2016
Employees:
11-50
IPO status:
Private
Total funding:
USD 135.8 mn
Last Funding:
USD 129.8 mn (Series B; Sep 2021)
Last valuation:
-
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Product Overview
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Company profile
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