3 years ago

Insly Secures €1.1 Million in Bridge Funding to Fuel Growth

  • Insly, a UK-based insurtech startup, has raised €1.1 million in bridge funding led by Fund Fellow Founders, with participation from existing investors Concentric and Uniqa Ventures

  • The funding will be used to accelerate growth across operations in Poland, London, and Tallinn, enable further product development, and expand sales and marketing initiatives to acquire new customers

  • Insly offers a low/no-code software platform for insurers, insurance brokers, and Managing General Agents (MGAs) to digitize and automate their mid and back-office operations

  • The company has grown to a team of 100 with offices in Tallinn, London, Vilnius, and Warsaw, and serves over 1,000 brokers, MGAs, and insurers with over 15,000 users.

      • ProblemFinancial Services

      "Insurers, insurance brokers and Managing General Agents (MGAs) are stuck with outdated, manual and inefficient processes for managing their operations, including distribution, policy administration, underwriting, claims, and reinsurance. This leads to wasted time and money, and makes it difficult for them to compete in the modern insurance market."

      Solution

      "Insly provides a low/no-code software platform that enables insurers, MGAs, brokers, and underwriters to digitize and automate their mid and back-office operations, making them more efficient and effective. This includes tools for distribution, policy administration, underwriting, claims, and reinsurance. Insly also offers additional services like accounting, reporting, and claims management tools, further enhancing the platform’s capabilities for streamlining and optimizing insurance selling and admin processes."

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