InsurTech Sure receives 100 million dollars in a new funding round
Sure, an InsurTech company that helps businesses leverage the potential of embedded insurance, has received 100 million dollars in a new funding round .
The round was led by Declaration Partners and Kinnevik, while WndrCo, FTAC Ventures, Expanding Capital, as well as existing investors W. R. Berkley Corporation and Menlo Ventures also participated.
With the new capital support, Sure has set itself the goal of globally expanding the company, launching new products and improving customer experience.
In fact, over the past year, InsurTech has doubled its revenue and team size.
The company offers end-to-end integrated insurance infrastructure for insurers and third-party companies. APIs give the customer a quick solution, with no bulk costs. Indicatively, its portfolio includes Farmers Insurance, Chubb, Intuit, Betterment and Carvana.
InsurTech also claims to have launched for the first time of its kind insurance plans for car manufacturers as well as for a leading global credit card network.
Sure’s co-founder and CEO, Wayne Slavin, said the new funding will fuel the growth of the business, allowing the insurance industry to fully leverage its ramifications in an online age.
Besides, he mentioned that insurance, like financial services, immediately needs a modernized technology to respond to the mentality of “here and now”, serving the modern customer.
As the priority is given to digital transformation and brands expand financial services to include insurance, Sure acts as a platform to feed insurance programs to the world’s largest companies.