Insly offers a low/no-code, full-cycle insurance software platform for insurers, brokers and MGAs, with modules for product launch, distribution, accounting, reporting and claims management. The platform targets C-suite employees and underwriters looking to launch and distribute new products and to streamline administration. The company plans to use the new funding to scale products, boost marketing, and accelerate growth. Insly was founded in 2013 and is led by founder and CEO Risto Rossar. It has grown to a team of 100 and maintains offices in Tallinn (core development), London (HQ), Vilnius and Warsaw. Insly serves over 1,000 brokers, MGAs and insurers with more than 15,000 users across 52 countries. Insly provides a low/no-code full-cycle insurance platform that enables insurers, MGAs, brokers, and underwriters to digitize and automate mid- and back-office operations including distribution, policy administration, underwriting, claims, and reinsurance. The product targets MGAs and brokers with the goal of simplifying insurance technology implementation and improving efficiency and customer experience. The company serves over 1,000 brokers, MGAs, and insurers, with more than 15,000 users and has processed over €0.5bn in gross premiums on its platform. Insly reports global revenues grew by over 30% in the last year and the business is close to breaking even. It operates offices in Tallinn (core development), London (HQ), Vilnius, and Warsaw. The company plans to use new funding to accelerate product development and ramp up sales and marketing to acquire additional customers. Insly is a UK-based provider of full-stack insurance software to sell and administer policies. Its platform is used by over 1,000 brokers and 30 underwriters, producing combined annual premiums of more than €1.1 billion. The company recently launched a low-code platform for MGAs and insurers that it says allows teams to build insurance products "ten times faster" than the previous software. Insly turned profitable during the COVID-19 period and maintained a notable 32% growth in sales. The product focus is on enabling brokers, MGAs and underwriters to speed product development and policy administration through its SaaS platform. Insly is a cloud-based insurance software company offering insurance policy management for brokers, agents, MGAs and wholesale. Founded in 2015 and based in London, UK, the company is led by CEO Risto Rossar. Insly's platform serves 180 customers across 40 countries. The company reported close to €2 million of revenue in 2017. Insly intends to use the new funds to develop its platform, scale the business and expand into new markets. Its core product focuses on cloud-based policy administration for intermediaries and managing general agents. Insly offers a SaaS-based solution for insurance brokers and agents to manage clients, policies, objects and payments, and includes a sales workflow for both clients and salespeople. The company was established about one and a half years earlier as a spin-off from an Estonian broker company by CEO Risto Rossar. Insly intends to use the seed funds to strengthen its development team and to map out new potential markets for growth. The business employs 30 people across offices in London, Tallinn, Minsk, Warsaw and Vilnius. Financially, Insly reported €870k in revenues in 2015 and expected to reach €1.6m in 2016. The product focus and the planned hiring and market expansion were cited as primary uses of the new capital.

Total raised

$8M

Funding rounds

5

Latest round

Debt Financing

Latest activity

Nov 2023