Introducing insurance products into the market can be a daunting task for newcomers. Companies looking to launch insurance products must consider cost-efficiencies, regulations, and customer experience. Sure is a comprehensive solution that addresses these challenges and provides benefits such as faster time-to-market, stronger fraud detection capabilities, automated underwriting and claims processing, scalability, and improved customer experience.
Sure is easy to set up and can quickly scale with companies’ needs. With its advanced security infrastructure and built-in multi-layered fraud prevention system, companies don’t have to build their risk management process. In addition, with Sure’s automated underwriting engine and real-time claims processing pipeline, companies can create new products quickly while managing risk efficiently.
Further, Sure dramatically improves customer experience by enabling customers to access digital channels for their insurance needs without intense requirements. Its modern user interface increases user engagement allowing companies to increase retention rates. As part of the platform’s integrated analytics capabilities businesses gain deeper insights from customer demographics, product usage patterns etc., which can be leveraged for smarter business decisions making process efficient.
What is Sure?
Sure is an insurance infrastructure startup that helps companies launch insurance products with its APIs. It recently raised $100M in its Series C financing round at a $550M valuation.
With the help of Sure’s technology, companies are better able to quickly launch insurance products in a cost-efficient manner. In this article, we’ll explore what Sure is, how it works, and its various benefits.
Overview of Sure
Sure is an insurance technology platform that allows companies to easily create, manage, and offer insurance products to their clients. The platform offers an exceptional user experience and promises a seamless, optimised process for launching and selling insurance products. It removes the need for dealing with paperwork, long sales cycles, and complex product implementations. Sure simplifies the process by offering an easy-to-use platform tailored to meet custom requirements.
The platform can also be used to review existing policies and contracts, handle customer service requests, help manage costs through budgetary control systems, analyse policies for risk management purposes, develop reports on policy performance, adjust policy limits at scale, and more.
The Sure platform includes robust policy management capabilities and automated marketing and underwriting processes that allow businesses to quickly launch new products or update existing ones with minimal effort. In addition, sure tracks all customer activity from quotes to renewals ensuring data consistency across all channels in real time. With its user-friendly toolsets and clear visibility into business operations performance metrics you can always stay ahead of the competition by having quality data for strategic decisions.
Sure is a mission-driven company prioritising safety, security and resilience in the modern connected world. We are committed to helping create a secure digital future by providing innovative identity, location and contextual technology offerings. Our products accurately, securely and quickly identify people and things on the networked edge.
Sure’s mission is to provide historically low false positives so that organisations can trust their system’s decisions are correct; evolve trust models to meet changing needs; make sure the right people have access to the right information in an increasingly complex ecosystem; raise awareness of increasing threats startups face; empower decision makers to instil trust in their systems; and be part of a new industry standard by implementing secure authentication tools and services.
Everyone should know who they’re engaging with online — physically or digitally. For us, security isn’t just about prevention — it’s about being protected in every sense of the word. Sure operates as a privacy-forward organisation that balances technology adoption while shielding users from potential malicious activity or data theft.
Insurance infrastructure startup Sure raises $100M Series C at a $550M valuation to help companies launch insurance products with its APIs (Mary Ann Azevedo/TechCrunch)
Sure, an insurance infrastructure startup, recently closed a $100M Series C round of funding at a $550M valuation. This funding will help companies launch insurance products with the help of Sure’s APIs.
With the help of Sure, companies can launch insurance products more quickly and with greater flexibility. Let’s look at the key benefits of using Sure for this purpose.
APIs for launching insurance products
The Sure platform allows companies to launch insurance products quickly and easily by leveraging its modern developer APIs. Through APIs, companies can create and modify insurance policies, process payments, and utilise real-time decisioning capabilities.
Sure’s APIs allow companies to build and manage end-to-end processes from policy underwriting to collecting policy premiums. All this is happening in an automated environment with dynamic pricing capabilities that without Sure would be difficult to do manually. The Sure platform also provides flexible integration strategies with existing custom IT systems such as web forms, databases, or CRMs.
In addition to providing APIs for launching insurance products, the Sure platform also offers premium support services so companies can focus on developing their products instead of dealing with mundane administrative tasks. This includes access to a team of professional experts available 24/7 via chat & email, in-depth product documentation, and comprehensive tutorials. With Sure’s expert support services, companies can launch their products at a fraction of the time and cost it takes traditionally.
Automation of insurance processes
Using Sure as an insurance platform can help companies quickly and easily launch new insurance products. Automation of the process is one of its many benefits. Automated processes streamline and simplify complex insurance processes, making it easier for companies to collect data, create product documents, set up electronic transactions, and process insurance claims more quickly.
Automating the process eliminates steps such as manual document collection and data entry which would otherwise take days or weeks. For example, instead of mailing out documents or collecting data over the phone, with Sure’s automated system these processes are simplified and completed in minutes or hours. This enables companies to launch new products faster with fewer headaches associated with manual processes.
Automation also allows insurers to move toward a more paperless office environment by eliminating paper document collection and storage while at the same time maintaining data security and privacy protocols. Furthermore, automation ensures policyholders receive timely policy updates when changes occur to avoid confusion about their coverage choice and status. Finally, automating processes helps insurers save money by eliminating unnecessary paperwork costs associated with physical forms or transaction processing fees. By using Sure as an automation platform for their insurance products and processes, companies can benefit from improved efficiency, cost savings, faster customer service response times, improved customer experience while staying compliant across different states’ specific regulations.
Insights and analytics
Insights and analytics are essential to understanding a company’s customer base, needs and objectives. Sure enables companies to drive meaningful insights into the data they collect, to help inform decisions surrounding product pricing, coverage design and distribution strategy.
A built-in toolkit of analytics provides companies with automated dashboards that enable continuous monitoring of customer satisfaction; track upsell opportunities; identify cross-sell opportunities; and enable predictive modelling of future performance. Crucially, these insights can be used to benchmark existing products and ensure companies remain competitive in a crowded insurance market.
Moreover, the integration of AI solutions gives insurers the ability to evaluate current market conditions and anticipate future market trends with precision accuracy. For any company wanting to launch an insurance product in an ever-changing industry landscape – Sure’s insights can be invaluable for staying ahead of competition.
Benefits of Sure
Sure is an insurance infrastructure startup that makes it easy for companies to launch insurance products using its APIs. Recently, Sure raised a $100M Series C round of funding at a $550M valuation.
This new round of funding will enable Sure to expand its insurance product offerings, helping more companies launch their insurance products quickly and easily.
In this section, let’s explore the various benefits companies can get from Sure.
Using Sure can provide companies with increased efficiency when launching insurance products. As many companies in the insurance space are looking to gain a competitive advantage, Sure offers a suite of purpose-built solutions enabling them to move quickly and effectively through product development cycles. With Sure, companies can access powerful tools for calculating premiums and managing policy issuance, allowing faster product launches. Additionally, integrated user dashboards provide support for an efficient customer experience. This eliminates paperwork and time-consuming processes that complicate the customer journey and slow product launch times.
Using Sure also provides easy access to authoritative intelligence on international markets and regulatory information needed when creating insurance products in global locations. Furthermore, built-in preloaded library integrations ensure high quality data imports that reduce manual labour and unify product launches with current market trends. By leveraging interactive visual analytics capabilities, companies can view data comparisons with other competitors to create competitively priced products quickly.
Sure is a modern, cloud-based platform that enables insurance companies to launch new products quickly and cost-effectively. This efficiency not only reduces expenses in the long term, but also allows more money to be dedicated to product development and customer satisfaction in the short term. Additionally, Sure’s scalability allows companies to increase or decrease their coverage without making significant investments upfront.
Sure is an ideal solution for companies looking to launch insurance products quickly with remote set up and minimal work hours. The service also features built-in fraud detection capabilities and licensable models from multiple insurers to provide customers competitive prices. These features all significantly reduce costs associated with product development and administration, freeing up critical resources for other aspects of the business.
Finally, Sure’s advanced analytics capabilities allow customers to gather detailed data on their portfolio to monitor performance more effectively and identify risk before it becomes a problem. This helps further reduce losses associated with financial instability or unexpected circumstances related to new markets and geographies. With Sure, insurance companies can be sure they are taking advantage of every opportunity while remaining vigilant against potential risks as they develop new products in the marketplace.
Improved customer experience
Using Sure for launching insurance products enables businesses to create a better customer experience with lower friction and faster processes. Sure technology adds value to any business looking to provide a secure, seamless, integrated customer experience.
Using Sure’s digital identity services means customers no longer have to go through lengthy manual processes involving paperwork and physical documentation, rather they can undergo secure identity verification quickly. This includes full KYC or Know Your Customer processes and AML or Anti-Money Laundering protocols that used to take up time and resources. It also eliminates the need for additional physical devices like key fobs or OTPs (one-time passwords) since the entire process is encrypted end-to-end.
Sure also offers customers more control over their data leading to increased trust in your brand. Customers can securely store their credentials online without worrying about them being lost or misplaced, thereby reducing stress levels and providing companies with valuable customer information that is accurate, reliable and up-to-date at all times. Since this data is securely stored within the company’s system, teams can leverage insights from this information to make informed business decisions catered specifically towards audience needs for better customer experiences.
Sure’s Recent Funding
The insurance infrastructure startup Sure has recently been funded with a series C at a fairly large valuation of $550M. This marks Sure’s first major funding round, bringing the total amount raised to $100M. This funding will help Sure’s mission of helping companies launch insurance products by providing a platform with APIs and other features.
Let’s take a look at the benefits Sure provides in detail.
Overview of Sure’s Series C funding
Sure recently closed a $95 million Series C round of funding. This brings the company’s total funding to $200 million, making it one of the most well-funded insurtech companies in the world. The round was oversubscribed and included investors such as ION Crossover Partners, Addition Ventures, Coatue Management, and Tiger Global. The investment will accelerate Sure’s product development and market expansion efforts to further solidify its leadership position in simplifying how small businesses launch and manage their insurance products.
The large funding round speaks to investors’ confidence in Sure’s mission of helping its customers launch new insurance products faster than ever before. In addition, sure is at the forefront of digitising traditional risk administration processes, which has led to a rethinking of how risk products are purchased and used every day. With this latest acquisition, Sure is pushing ahead with its goal of becoming an integrally connected layer allowing businesses to manage their risk requirements hassle free.
What the funding means for companies
Sure’s recent financial infusion of $20M in a Series A funding round is a testament to Sure’s success over the past few years as companies look for more innovative and effective ways to launch insurance products. This latest round of funding signals that Sure is well positioned to continue delivering outstanding customer service and meeting the demands of the modern insurance industry.
This new influx of capital investors can only mean good things for companies. Without large upfront investments, businesses now have an easier and more robust means of launching insurance products with Sure. By utilising Sure’s core technology platform, companies can create personalised risk solutions tailored to their customers’ needs while gaining valuable insights into their risk profiles with powerful analytics capabilities. Calculate, analyse, and manage all within one unified platform.
By partnering with Sure, businesses can also access all necessary compliance tools to keep up with ever-changing industry regulations without intervening software or lengthy legal contracts. In addition, with trustworthy solutions across customer data management, customer engagement tools and API integrations, businesses can trust in streamlined efficiencies that help drive their success forward.
tags = Insurance infrastructure startup Sure, raises $100M, aunch insurance products with its APIs, sure series 550m azevedotechcrunch, $550 million valuation, APIsSure