Insurtech Magazine September 2023 | Page 19

the company has generated US $ 184.9m in total funding .
After raising US $ 60m in Series D funding in 2021 , Dalyac and Ranca were able to expand Tractable to include a range of other product offerings .
These included solutions to help insurers accelerate visual inspection and appraisal processes , expanding pricing services from salvaged car parts to property assessment .
Funding has also allowed Tractable to expand on industry partnerships , striking deals with established insurers including Root , Verisk , Covéa , and American Family Insurance .
It has also expanded its services into new markets , having launched a German subsidiary in April 2022 to better target the world ’ s third largest insurance marketplace .
With another US $ 65m in the bag , Dalyac is excited to see his company expand “ across the auto and property ecosystems , to apply AI to cars and homes that need to be repaired , protected , recycled or sold ”.
He adds : “ I ’ m excited by what we can achieve in redefining trust and transparency to support people in managing the life cycles of their cars and homes .”
Today , Dalyac ’ s Tractable still lives by the same mission statement : “ With AI on our side , we can free employee time for more valuable tasks , improve customer experiences , accelerate repairs and increase recycling – better for all of us , and the planet .” insurtechdigital . com 19