Insurtech Insoore Nets €5.5 M For Risk Assessment And Digital Claims Management

April 07, 2022 | 2 minutes read

Italian insurtech startup Insoore bags  5.5 M to boost its damage detection capabilities with the help of AI technology.

Insoore the Insurtech platform that aids companies in insurance and fleet management bags funding of 5.5M. With the participation of Lumen Ventures, Azimut Libera Impresa via Azimut Digitech Fund, and GELLIFY the round was led by Proximity Capital.

Team Insoore
Insoore team. Image Credits: Insoore Twitter

Launched in 2017 by Rome headquartered Whoosnap. The startup offers companies to optimize the claims management process through video-photographic inspections. The damage estimation is carried out by a community of experts on request and in real-time. 

Being a simple solution it allows its customers to obtain its services in simple steps. On receiving the assignment of management of claim the insured is contacted immediately. Here the Insoore app enables the company’s operator to photograph the damage and collects the necessary information.

Furthermore, for quality control, the collected documentation is sent to the claims department which checks the completeness and quality of data received. The team quickly makes a precise estimate of the damage. So in record time, Insoore makes compensation for damage and also ensures customer satisfaction.  In short, Insoore has completely transformed the way in which the insurance industry works.

As Enrico Scianaro, CEO, Whoosnap, on insurtech changing the insurance industry said:

-“In just a few years, we have proved that the model can rewrite some rules of the sector.”-

Enrico is right that insurtech with a number of advantages like fraud prevention, efficiency, and cost-effectiveness possesses the ability to change the insurance industry. That’s why by 2030 the industry will worth $158,994.2 million. With soaring insurtech mobile apps and website development. This has also led investors from around the world to open their wallets to insurtech startups. Such as the Insurtech startup Coterie raised  $50 million in funding and Justos gathered $35.8 million.