Lightbank VC is a $700M AUM venture fund that invests in early-stage vertically focused AI, consumer, enterprise, healthcare, crypto, fintech and climate companies. It focuses on pre-seed, seed and Series A opportunities where they write initial checks between $250k - $5m. They have invested in over 150 companies such as Tempus, Udemy, Fiverr (NYSE: FVRR), Sprout Social (NYSE: SPRT), Boom Supersonic, Tastytrade (acq. $1B+), Extend, Attain, Paytient and Expel.

Lightbank

Montage Ventures is an early stage venture capital firm actively investing in financial services, e-Commerce, marketplaces and healthcare start-ups.

Montage Ventures

USAA provides banking, insurance, and investment services to the military community. The mission of the association is to facilitate the financial security of its members, associates, and their families through provision of a range of highly competitive financial products and services in so doing, USAA seeks to be the provider of choice for the military community.

USAA

500 Global is a multi-stage venture capital firm with $2.4 billion in assets under management. The firm invests in founders who are building fast-growing technology companies. It focuses on markets where technology, innovation, and capital can generate long-term value and economic growth. 500 Global collaborates with key stakeholders and provides advisory services to governments on fostering entrepreneurial ecosystems to support startups. The firm has invested in over 5,000 founders and more than 2,800 companies across 80+ countries. It has funded over 35 companies valued at more than $1 billion and over 160 companies valued at over $100 million, including those that are private, public, or have exited. The team consists of over 190 members based in more than 25 countries, with experience as entrepreneurs, investors, and operators from leading technology companies.

500 Global

At Commerce Ventures, they are building a new and different type of venture capital firm. Their investors are a unique and strategic blend of leading entrepreneurs, senior executives, and corporates from their focus sectors (mobile, retail/e-commerce, payments, fin-tech, insurance). In addition to providing capital, they are committed to helping their portfolio companies succeed in scaling their commerce-related innovations.

Commerce Ventures

IA Capital is the longest-tenured independent venture capital firm focusing on insurtech. Based in New York City, IA Capital has a two-decade track record of successfully partnering with innovative early and growth stage companies in insurance and—more broadly—financial services. IA Capital manages strategic venture capital programs for 16 insurers.

IA Capital Group

F-Prime's roots are in one of America’s great entrepreneurial success stories. Fidelity Investments was founded in 1946 and grew from a single mutual fund into one of the largest asset management firms in the world, with over $2 trillion in assets under management. For the last forty years, this venture capital group has had the privilege of backing other great entrepreneurs as they built ground-breaking companies in technology and life sciences, including Atari, MCI, ROLM Corp., Alibaba, Ironwood Pharmaceuticals, and Ultragenyx.  Today, F-Prime's funds are larger and more global, but its teams are still small and local. F-Prime stays true to its entrepreneurial roots. In the US and Europe, F-Prime Capital Partners is investing in healthcare (formerly Fidelity Biosciences) and in technology (formerly part of Devonshire Investors). In other geographies, its sister fund is called Eight Roads (formerly Fidelity Growth Partners), with investment teams in London, Shanghai, Beijing, Hong Kong, Tokyo, and Mumbai.   Together F-Prime brings a world of insight, domain expertise and relationships to support entrepreneurs. Without the pressure of fundraising from outside investors, F-Prime Capital Partners focuses all of its time finding and helping great entrepreneurs build important companies.

F-Prime Capital

Intact Financial Corporation is an insurance company that provides property and casualty insurance products to individuals and businesses. The company offers a wide range of insurance products, including auto insurance, home insurance, commercial property and liability insurance, and specialty insurance products. They serve both personal and commercial customers.

Intact Financial Corporation

Eight Roads Ventures is a global venture capital firm managing $11bn of assets across offices in the UK, China, India, Japan, and the US. Together with our associated funds, including our US sister fund F-Prime Capital, our 50-year history of investing includes partnerships with over 500 companies such as Alibaba, AppsFlyer, Chewy, Fareye, Fever, Flywire, Fireblocks, Funnel.io, Gloat, Hibob, Icertis, Neo4j, Otrium, Owkin, Paidy, Spendesk, Tibber, Toast, Wallapop and Xoom.

Eight Roads Ventures

Liberty Mutual Strategic Ventures is a $150M corporate venture fund backed by Liberty Mutual Insurance. We invest in insurtech, fintech, and adjacencies across the future of shelter, mobility, commerce, and insurance innovation. We are focused on property and casualty across personal and commercial lines; we do not invest in life or health startups. We primarily invest in the United States, but will evaluate startups that operate across Liberty Mutual’s global footprint.

Liberty Mutual Strategic Ventures

Fosun RZ Capital was founded in 2013 and headquartered in Beijing. As an affiliate of Fosun Group, RZ Capital is an independent fund with strategic resources, quickly establishing global footprints. The company invests in all the stages of a company’s development from the early start- Up to IPO.  The firm has over 100 portfolio companies in China, with about $1.2 billion in assets under management, with investments in India, Israel, China, Southeast Asia, and the United States.  Focuses on investing in science and technology innovation, and connecting global momentum to global resources.

Fosun RZ Capital

Founded in 2010 by ex-software operators, Tola Capital is a venture capital firm that believes in the power of software and data to transform the way the world works. Our diverse team provides hands-on engagement to founders who build solutions with the potential for long-term, transformational change. We invest globally across multiple stages and exclusively target companies led by exceptional talent who are building essential software for enterprise customers.

Tola Capital

Pivot Investment Partners is a team of CEO-level operating executives who have grown and transformed financial services businesses around the world. It shares deep experience in markets where information, technology, and scalable processes are critical drivers of success. It works closely with a select set of high-potential financial services and FinTech companies, investing our operating expertise and capital in their success and accelerated growth. Each of its engagements is tailored to company-specific needs, including access to broader pools of capital. All of its partnerships are underpinned by a shared passion for building distinctive, innovative, and customer-centric businesses.

Pivot Investment Partners

Established by Ping An Group, Ping An Global Voyager is a Hong Kong-based investor in growth stage fintech and healthtech companies. Global Voyager typically invests between US$15 million and US$50 million in non-control positions where an affiliation with Ping An has the potential to meaningfully accelerate a target company’s growth. Global Voyager has active investments in Europe, Asia and North America.

Ping An Global Voyager

Since 1912, Liberty Mutual Insurance have committed theirselves to providing broad, useful and competitively-priced insurance products and services to meet their customers' ever-changing needs.  Their delivery on this commitment is the reason they're now the third largest property and casualty insurer in the U.S. based on 2012 direct premium written according to the National Association of Insurance Commissioners.

Liberty Mutual Insurance

Intact Ventures invests in seed-stage startups and seeks to collaborate with founders. The company supports both direct and fund investments in core thematic areas, with a focus on Series A and B possibilities.

Intact Ventures

We're an early stage venture capital firm focused on equity investments in companies with dramatic growth potential, primarily in technology and highly-scalable services businesses. Our focus investment areas are digital health, fintech, consumer software, and enterprise software.

OCA Ventures

Sedgwick Claims Management Services is a North American provider of technology-enabled claims and productivity management solutions. Sedgwick and its affiliated companies deliver cost-effective claims, productivity, managed care, risk consulting, and other services to clients through the expertise of nearly 11,000 colleagues in some 200 offices located in the U.S. and Canada. The company specializes in workers’ compensation; disability, FMLA, and other employee absence; managed care; general, automobile, and professional liability; warranty and credit card claims services; fraud and investigation; structured settlements; and Medicare compliance solutions. Sedgwick and its affiliates design and implement customized programs based on proven practices and advanced technology that exceed client expectations.

Sedgwick Claims Management Services

Nationwide Ventures invests in startups, pilots new technologies, and tests new solutions and business models. We focus on delivering next-generation experiences for Nationwide’s customers by exploring leading-edge topics from analytics and automation technology to new insurance and financial services platforms.

Nationwide Ventures

State Auto Labs brings together investment and insurance expertise to grow innovations that are reinventing the insurance industry.It connects startups with capital, technologists and insurance industry experts. Our objective is to identify, become early adopters of and invest in transformative technologies and solutions.

State Auto Labs

Snapsheet

Snapsheet is a cloud-native claims management software that delivers claims experiences through its tech-enabled appraisal services. With a focus on engagement, digitization, and intelligent automation, Snapsheet provides unmatched technology and processes that improve customer experience, drive greater organizational agility, and deliver transformational benefits through its Snapsheet Cloud software suite. The company also helps the industry with claims innovation, including the deployment of the fastest digital auto insurance claims process in the United States. As a trusted innovation partner, Snapsheet works with more than 100 clients, including many of the largest insurance carriers, third-party administrators, and insurtech and sharing economy disruptors.

<div>Snapsheet provides a Software-as-a-Service (SaaS) solution for insurers to digitize their claims processing from First Notification of Losses (FNOLs) all the way to processing disbursements. The platform includes features such as real-time status tracking, payee engagement, financial reporting, and integration with banking platforms. Started under the name BodyShopBids and providing a marketplace for auto repairs that allowed customers to comparison shop by uploading photos of their vehicles, in 2012, the company pivoted to licensing its technology to insurers, enabling them to carry out appraisals virtually without having an agent on site.&nbsp;</div>

InsurTech: Infrastructure

Auto Damage Appraiser - Snapsheet

Zurich Insurance Group

To streamline claims for Zurich customers and better communication with Zurich to speed up and simplify the claims experience.

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

<div>
 
 Snapsheet provides a Software-as-a-Service (SaaS) solution for insurers to digitize their claims processing from First Notification of Losses (FNOLs) all the way to processing disbursements. The platform includes features such as real-time status tracking, payee engagement, financial reporting, and integration with banking platforms. Started under the name BodyShopBids and providing a marketplace for auto repairs that allowed customers to comparison shop by uploading photos of their vehicles, in 2012, the company pivoted to licensing its technology to insurers, enabling them to carry out appraisals virtually without having an agent on site.&nbsp;
 
 
 
 
 The company was forced to furlough 100 staff due to the downturn caused by the Covid-19 pandemic, but by March 2021, the company had reengaged 24 of those employees for a total headcount of 220 people with plans to expand its team by 170 over the next two years.
 
 
 Snapsheet has partnered with insurance startups such as Kin Insurance, Clearcover, and Branch Insurance to power their claims management systems and has also entered into cross-industry partnerships with car-sharing platform Getaround and salvage vehicle marketplace Insurance Auto Auctions (IAA). As of March 2021, the company claims to have processed millions of claims and more than USD 7 billion in appraisals for more than 100 clients including Zurich Insurance and the car rental company Hertz.
 
 
 In March 2021, the company raised USD 30 million in a Series E2 funding round led by Ping An Global Voyager Fund and Pivot Investment Partners. The company expects to use the funding to add new features to its claims management platform and grow its team.
 
</div>

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

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

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

Snapsheet

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