Insurtech Insurdata has raised $3m in a seed funding round led by Anthemis and Menlo Ventures to provide reinsurance clients with risk-specific data for their underwriting. The company will use the money from its new investors to expand into other areas of insurance, including life insurance. Jason Futers, Insurdata CEO, said the company aims to fill in “material deficiencies” in the information underwriters rely on, and to work with re/insurers to create more accurate data for a broad range of risks, including natural catastrophe, terrorism and cyber.
Insurtech Insurdata has raised $3m in a seed funding round led by Anthemis and Menlo Ventures to provide reinsurance clients with risk-specific data for their underwriting. The funding pushes the firm’s total capital to $4m. Jason Futers, Insurdata CEO, said the company aims to fill in “material deficiencies” in the information underwriters rely on, and to work with re/insurers to create more accurate data for a broad range of risks, including natural catastrophe, terrorism and cyber.