INSHUR insurtech for the on-demand economy, today announces it has raised $35 million from alternative asset manager Trinity Capital.
Founded in 2016 simultaneously in Brighton, UK and New York, INSHUR offers embedded insurance solutions and complementary technology integrations for digital platform providers, including Uber and Amazon. It provides a personalised suite of products that protects the wellbeing of on-demand livery and delivery drivers, providing flexible coverage and protection which adapts to the job – helping them stay on the road and keep earning.
Operating globally, INSHUR’s platform simplifies and streamlines commercial insurance for on-demand mobility drivers, fleet operators, and delivery drivers. The company recently surpassed 1 million policies sold in the UK, one of its core markets.
The rise of autonomous vehicles in the on-demand category requires a certain type of expertise across insurance and technology, combined with a deep understanding of the risks when developing insurance solutions. In response, INSHUR plans to invest more into R&D, particularly for the deployment of advanced AI technologies to support underwriting and real-time pricing.
Dan Bratshpis, CEO and Co-founder of INSHUR, adds:
“This raise reflects our disciplined approach to insurance solutions for the on-demand economy.
With Trinity Capital’s support, we’re accelerating our US footprint, expanding key partnerships, and advancing our position in the future of insurance for autonomous mobility – all whilst laser-focused on profitability.”
Tal Brener, Group CFO of INSHUR, continues:
“We are in a consistent more than 50 per cent CAGR since 2023. With our new products and solutions being deployed this year, and our investment in AI, we are on a trajectory to accelerate this growth.
Along with our clear path to profitability, we aim to cross the $100 million revenue run rate in less than a year to cement our position as a world-class leader in insurance for the on-demand economy.”
Jack McNamara, Director of Tech Lending at Trinity Capital, concludes:
“INSHUR’s deep market knowledge, technology-first approach, and data-driven strategy make them a leader in the commercial auto insurance space, especially within the booming on-demand economy. We are excited to partner with the team at INSHUR as they work to redefine the future of insurance.”
The new funding will support INSHUR’s continued expansion across the US, fast-track its path to profitability and reinforce its development of innovative insurance solutions for capacity insurers, platform partners and drivers in the on-demand economy.
Lead image: INSHUR. Photo: uncredited.
Would you like to write the first comment?
Login to post comments