Federato, a San Francisco, CA-based provider of a “RiskOps” platform for Property & Casualty and Specialty insurance, raised $15M in Series A funding.
The round was led by Emergence Capital, with participation from Caffeinated Capital, Pear, Niranjan ‘Niji’ Sabharwal, John Raguin, and Guidewire. As part of the raise, Lotti Siniscalco, Emergence Partner, will join the company’s board.
The company intends to use the funds to accelerate its growth in the North American Property & Casualty and Specialty insurance markets through continual improvements to its platform and the recruitment of talent to grow its team.
Led by CEO Will Ross, Federato delivers a sleek underwriting experience combining a unified workflow with real-time risk data, empowering underwriting and operations teams to meet their strategic goals and grow their book of business. Its approach allows insurers to operationalize underutilized data assets, such as catastrophe models and cyber security scans, to address the insurance industry’s most pressing challenges including climate change, social inflation, and cyber risk. The company uses reinforcement learning-based AI to provide a dynamic, unified view of risk selection data, portfolio strategy, underwriting rules, and goals directly within the underwriting workflow. This approach helps guide underwriters toward the right decisions to grow their business and avoid unnecessary losses. The configurable platform can be implemented in 8 to 12 weeks.
FinSMEs
19/09/2022