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Amplify raises USD 10 million as a follow-on to its Series A funding round
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InsurTech: Personal Lines

InsurTech: Personal Lines

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Oct 3, 2022

Amplify raises USD 10 million as a follow-on to its Series A funding round

Funding
Partnerships

  • Amplify, a digital life insurance provider, has raised USD 10 million as a follow-on to its Series A funding round completed in January this year bringing the company’s total funding to USD 25.1 million. The round was led by Munich Re Ventures (MRV), with a follow-on investment by Crosslink Capital, Greycroft, and Conversion Capital.

  • Amplify aims to use the fresh capital to build an end-to-end digital platform with a focus on automating administrative work in policy customization, payments, underwriting, servicing, and claims management. 

  • In addition, the MRV investment is also accompanied by technology collaboration in which Amplify would use Munich Re’s risk assessment and decisioning platform–Alitheia–to automate its underwriting process.

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