BlackFin is a sector-focused fund, specializing in Financial Services in Europe.The firm’s strategy focuses on asset-light (as opposed to balance-sheet intensive) businesses in the financial services sector, across continental Europe. BlackFin operates as an active and influential investor, substantially transforming its portfolio companies by growing them organically, improving operating margins and also through an active buy and build strategy. The firm supports successful management teams to take their businesses to the next level.

BlackFin Capital Partners

MTech Capital is a venture capital firm with offices in Santa Monica and London investing in technology companies operating in the insurance industry.  We define the insurance sector broadly to encompass all of the businesses that insurance companies are in, including asset management, wealth management and other financial services.  We look for founders with the vision and ambition to change the insurance industry using technology.  We invest across all stages and our primary focus is in North America and Europe.

MTech Capital

Hedosophia is a global investment firm supporting category-defining technology companies. The company is based in London, England, United Kingdom.

Hedosophia

FinTLV is a global venture capital fund focused primarily on insurtech and Fintech. We back some of the most promising companies in these domains in the US, Europe and Israel and invest across all stages. We help our portfolio with our rich experience in the insurance field and with our global network of tens of insurance and reinsurance companies.

FinTLV Ventures

Guidewire Software, Inc. provides technology solutions to the property, casualty, and workers compensation insurance industry. It offers ClaimCenter, a Web-based claims system that supports various lines of personal, commercial, and workers' compensation insurance; BillingCenter, a Web-based enterprise application for coordinating, executing, and recording receivables transactions; and PolicyCenter, a Web-based underwriting and policy administration system for personal and commercial line carriers. The company also offers implementation services; and assessment services for property and casualty companies in North America. Its solutions are used to perform various insurance operations, including billing, underwriting, policy, and claim management. Guidewire Software, Inc. was founded in 2001 and is based in San Mateo, California with additional offices in London, Munich, Paris, Sydney, Tokyo, Hong Kong, and Toronto.

Guidewire Software

One Peak is a B2B Tech specialist growth investor with deep sector expertise, a vast network, and a founder-first approach. We focus on equity investments between $15-100M in growth-stage companies with exceptional teams.

One Peak

Partners Group are a unique, global alternative asset manager with strong Swiss roots, proactively providing their international client base with innovative, customized solutions. With CHF 19.2 billion in private equity assets under management, a global team of over 130 private equity professionals in seven offices, and over 300 partnership investments led by over 200 general partners, Partners Group is one of the largest private equity asset managers worldwide.

Partners Group

Akur8

Akur8 is a developer of an AI-driven insurance pricing and reserving platform designed to provide AI-powered pricing automation and optimization for insurance carriers. The company's platform integrates with leading-edge algorithms dedicated to insurance pricing. The platform leverages machine learning to automate and optimize insurance pricing, providing significant advantages in the insurance market.

<div>Paris-based Akur8 develops AI solutions to automate the insurance pricing process, specifically for non-life and health insurance. The company uses proprietary algorithms to automatically generate models that can be used by insurers to determine insurance premiums while maintaining full transparency and control of the models created. Features include automated GLM modeling, geographical modeling that incorporates external variables, and the ability to aggregate and combine different models together. The company claims that its platform can enable actuaries to develop models 10x faster than traditional methods while simultaneously improving model performance and predictive power.</div>

InsurTech: Infrastructure

Insurtech Akur8 to Assist Windward Risk Managers with Enhancing Predictive Modeling Capabilities

Utica First Insurance Company

To enhance Utica First's pricing models, improve rating structures, and establish detailed territories using Akur8's Core Platform Solution, providing transparent GLM outputs and data-driven underwriting capabilities.

Tokio Marine

Akur8 was selected by Tokio Marine HCC for its pricing platform. Tokio Marine HCC will enhance its pricing capabilities through Akur8’s unique ML technology, which will bring quicker model building, clear GLM outputs, and data-backed underwriting.

AllClear

It aimed to automate and improve the rate making process for its travel insurance products using Akur8's proprietary AI technology. It had also planned to use it for risk and demand modeling.

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

AXA Group

With this partnership, AXA Tianping’s actuaries and pricing team will officially deploy Akur8 to unlock new potential with unique analytical insights and advanced pricing automation.

To help enhance AXA Direct Japan (ADJ)’s pricing process and to foster innovation within the insurance space in Japan

<div>
 
 Paris-based Akur8 develops AI solutions to automate the insurance pricing process, specifically for non-life and health insurance. The company uses proprietary algorithms to automatically generate models that can be used by insurers to determine insurance premiums while maintaining full transparency and control of the models created. Features include automated GLM modeling, geographical modeling that incorporates external variables, and the ability to aggregate and combine different models together. The company claims that its platform can enable actuaries to develop models 10x faster than traditional methods while simultaneously improving model performance and predictive power.
 
 
 Key customers and partnership
 
 
 The company has worked with over 80 insurers worldwide, which includes top carriers such as Axa, Generali, Munich Re, wefox, and AllClear.
 
 
 Funding and financials
 
 
 In July 2023, the company 
 <a href="https://sp-edge.com/updates/20113">
 raised USD 27.3 million in venture funding
 </a>
 led by Guidewire, with participation from BlackFin Capital Partners and FinTLV Ventures. However, it did not disclose the use of proceeds.
 
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<div>
 
 AgentSync powers growth for insurance carriers, agencies, MGAs, and producers by offering modern tools for producer and compliance management. With a customer-centric design, seamless APIs, and automation, AgentSync's products reduce friction, increase efficiency, and maintain compliance, ultimately helping to improve the broker onboarding, contracting, licensing, appointing, and compliance processes.
 
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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, based in Israel, is a SaaS insurance platform that provides vehicle insurance solutions for car OEMs, mobility providers, insurers, and the mobility ecosystem. As a white-label, cloud-based integrated platform, Bambi Dynamic provides an end-to-end solution that includes onboarding, underwriting, user identification, pricing, policy operations, and loss notice. The platform creates insurance products by measuring usage, events, and behavior, using data collected from various sources including smartphones, connected cars, and smart sensors. Bambi Dynamic’s products include personal auto, personal connected auto, fleet insurance, shared and micro-mobility, MaaS for mobility app providers, and autonomous vehicle insurance.

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 an InsuranceTech company that applies an API-based approach and modern technology to commercial insurance. It looks to integrate insurance with platforms and processes that businesses, contractors, and gig workers use every day. The company also streamlines the insurance process for its clients. Its core focus remains on small business insurance. Products that it offers include business owners policy, general liability insurance, and professional liability insurance. Coterie Insurance is privately held and a licensed insurance producer in all 50 US states.

Coterie Insurance

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

PROMINENT_CATEGORY

<div>
 Akur8, an insurance pricing solution provider that uses machine-learning, has collaborated with Utica First, an insurer for small businesses and personal lines. This partnership is aimed at enhancing Utica First's pricing models. With Akur8's Core Platform Solution, Utica First will be able to create predictive modeling processes, refine rating structures, and form detailed territories. The goal of this collaboration is to produce transparent GLM outputs and facilitate data-driven underwriting for Utica First's insurance operations.
</div>

Akur8

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