article thumbnail

Parametrix Insurance raises $17.5 million to offer cloud downtime insurance

TechCrunch

million funding round, offers insurance policies for companies who rely on third-party cloud providers, ecommerce services, payment gateways and CRM systems. “We’ve all felt the pain of downtime,” said co-founder and CTO Neta Rozy. Normally, when you have a pain caused by technology, you try to fix it with technology.

Insurance 245
article thumbnail

YC-backed Amenli raises $2.3M to provide insurance to Egyptian consumers

TechCrunch

The average penetration rate for insurance in Africa is between 3% to 5%. South Africa makes up a large bulk of it; without it, the continent is on a 1% to 2% rate even with other developed technology and financial markets like Kenya, Nigeria and Egypt. million seed round to provide insurance services for Egyptians.

Insurance 246
article thumbnail

Notch will sell you insurance in case your Instagram gets hacked

TechCrunch

The Israel-based startup Notch is trying to see if insuring creators against Instagram hacks could offer a solution. TechCrunch reviewed a sample insurance policy, which quoted a $459 annual fee (or about $38 a month) for insurance that pays out $244 for each day that a creator can’t get into their account after a hack.

Insurance 239
article thumbnail

A Strava co-founder races into a lucrative market – lending against life insurance

TechCrunch

The serial entrepreneur joined activity and fitness tracking platform Strava as a co-founder in 2009 to lead engineering as CTO. Before that, Shaw helped start insurance software outfit Guidewire. And it’s just raised $15 million in Series A funding to keep growing and build out its technology. Image Credits: Inclined.

Insurance 237
article thumbnail

YC-backed Curacel unveils new API platform that enables tech-led businesses to offer insurance

TechCrunch

Curacel , the YC-backed startup that is developing insurance infrastructure for the African market, has launched a new interface that allows digital businesses like those in retail, fintech, e-commerce and logistics to add insurance to their core products. Insurance companies were losing a lot of money to fraud.

Insurance 232
article thumbnail

AI in action: How enterprises are scaling AI for real business impact

CIO

The virtual event also featured demos of EXL Code Harbor , a generative AI-powered code migration tool, and EXLs Insurance Large Language Model (LLM) , a purpose-built solution to the industrys challenges around claims adjudication and underwriting. It also delivers the best outcomes for both the insurers and the insured.

article thumbnail

Planck, the insurance data analytics platform, raises $20M growth round

TechCrunch

Planck co-founders (from left to right): David Schapiro, CEO Elad Tsur and CTO Amir Cohen. Planck , the AI-based data platform for commercial insurance underwriting, announced today it has raised a $20 million growth round. Planck said it currently works with “dozens of commercial insurance companies in the U.S.,” business.

Insurance 189