THE BRIEF
“ IN THE CURRENT MACROECONOMIC CLIMATE , A FULL ‘ RIP AND REPLACE ’ STRATEGY FOR LEGACY SYSTEMS MAY PROVE TOO COSTLY AND RISKY ”
MARIANA HENRIQUES Product Marketing Director , Insurance FintechOS �
INSURTECH SUPERSCRIPT RAISES $ 54.5MN IN SERIES B ROUND
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“ BY STORING DATA ON THE BLOCKCHAIN , INSURANCE COMPANIES CAN REDUCE THE RISK OF HUMAN ERROR WHEN COMPLETING TASKS LIKE PROCESSING CLAIMS OR UPDATING RECORDS ”
NISH KOTECHA Chairman , Finboot �
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UK-based insurtech Superscript , a digital-first insurance provider to small businesses and high-growth tech companies , has completed a US $ 54mn Series B funding round to help fund its growth strategy .
According to reports , the round was led by existing investor BHL UK , owner of Comparethemarket , with participation from new investor and Fortune 500 insurer The Hartford . Other existing investors , including Concentric , also took part .
“ IF YOU DON ’ T HAVE A CLIENT-FIRST CULTURE , YOU WON ’ T EMBRACE CHANGE AND IT ’ S GOING TO BE A REAL CHALLENGE FOR YOUR BUSINESS ”
CHRIS MOORE Head of Apollo ibott 1971�
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Superscript , which was launched in 2015 , covers both simple and complex risks through a highly personalised experience and deep level of customer engagement . This is enabled through its proprietary triaging technology and unique multi-carrier model , which gives it access to insurer capacity across broad markets and regions .
The insurtech provides modern businesses with complex risk , flexible , and tailored coverage through the advisory and broking service known as SuperscriptQ . Less complex businesses , meanwhile , can obtain coverage in a matter of minutes through the online platform .
16 March 2023