Insurate leverages data science and predictive analytics to identify businesses that are statistically safer than average and to price workers' compensation more fairly. Its proprietary Safe-Tier Index (STI) uses back-tested data to identify safe businesses and help in pricing insurance. Insurate operates as an insurance technology provider, wholesaler, and managing general agency, partnering with insurers and distribution channels. The company is currently in market and reports average policy savings to date of 24% without applying maximum allowable credits. Insurate emphasizes the independent agent channel and aims to align policyholders, agents, and carriers through transparency and value. It has established partnerships with insurers including Key Risk (a Berkley Company) and Encova.

Total raised

$5M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2021