{"id":16192,"date":"2022-07-09T08:05:00","date_gmt":"2022-07-09T08:05:00","guid":{"rendered":"https:\/\/ipventures.in\/?p=16192"},"modified":"2022-07-22T10:31:32","modified_gmt":"2022-07-22T10:31:32","slug":"insurtech-startup-ensuredit-raises-4-2-million","status":"publish","type":"post","link":"https:\/\/ipventures.in\/index.php\/insurtech-startup-ensuredit-raises-4-2-million\/","title":{"rendered":"Insurtech Startup Ensuredit Raises $4.2 Million"},"content":{"rendered":"<div class=\"wp-block-post-date has-text-color has-black-color\"><time datetime=\"2022-07-09T08:05:00+05:30\">July 9, 2022<\/time><\/div>\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"ticss-2b0f8d15 has-black-color has-text-color has-normal-font-size\">Insurtech company Ensuredit secured $4.2 million in Pre-Series Round A funding, which Cover Genius headed. Investors 9 Unicorns, NexStep Discovery Pte, CP Ventures, Venture Catalysts, and IPV participated in the round. Additionally, current investors took part in this round as well.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote is-style-default\"><blockquote><p><strong><b><span style=\"color:#ff781f\" class=\"has-inline-color\">The company aims to utilise this funding to ramp up product offerings and expand the technology team.<\/span><\/b><\/strong><\/p><\/blockquote><\/figure>\n\n\n\n<p class=\"has-black-color has-text-color has-normal-font-size\">The company plans to use this money to expand the technology team and build product offerings. In the current fiscal year, Ensuredit seeks to facilitate the tech-led delivery of more than 1 million insurance policies.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-normal-font-size\">The startup will expand the use of context-sensitive artificial intelligence (AI), machine learning (ML), and computer vision-based products that will simplify customer journeys while enhancing sales teams and customer onboarding, offering in-depth business analytics, and preventing leakage in financial reconciliation.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">&#8220;We give cutting-edge technology and digitisation solutions to the insurance business, with a specific focus on insurance intermediaries and distributors,&#8221; stated Amit Boni, founder and CEO of Ensuredit. The industry&#8217;s objective of providing insurance to every Indian depends on equipping them with this technology.<\/p>\n\n\n<p>[vc_row css=&#8221;.vc_custom_1641624024164{padding-top: 20px !important;}&#8221;][vc_column][vc_cta h2=&#8221;Looking to Invest in Similar Kind of Startups?&#8221; h4=&#8221;Join our 4-Week Membership Trial&#8221; add_button=&#8221;bottom&#8221; btn_title=&#8221;Join Us&#8221; btn_color=&#8221;sky&#8221; btn_align=&#8221;center&#8221; btn_link=&#8221;url:https%3A%2F%2Fipventures.in%2Fcontact%2F%23investor-contact|target:_blank&#8221;][\/vc_cta][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">As Cover Genius expands its global capabilities, particularly in the severely underfunded Indian market, we are excited to assist Ensuredit in using its technology to make the traditional insurance market relevant, according to Angus McDonald, CEO and co-founder of Cover Genius.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-normal-font-size\">By leveraging technology, the platform seeks to upend the Indian insurance market and usher in its next growth phase. To do this, the company collaborates closely with insurance distributors (brokers, NBFCs, banks, etc.) to improve the recruitment and productivity of their sales forces while enabling them to integrate several insurance manufacturers and channel partners.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-background has-black-background-color has-black-color is-style-wide\"\/>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\">IPV  Funding News Covered On<\/h3>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/entrackr.com\/2022\/07\/ensuredit-raises-4-2-mn-in-pre-series-a-round\/\"><img loading=\"lazy\" decoding=\"async\" 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class=\"wp-block-latest-posts__post-date\">June 24, 2023<\/time><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Insurtech company Ensuredit secured $4.2 million in Pre-Series Round A funding, which Cover Genius headed. [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":16193,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[48],"tags":[],"class_list":["post-16192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Insurtech Startup Ensuredit Raises $4.2 Million<\/title>\n<meta name=\"description\" content=\"Ensuredit, a startup focused on working closely with insurance distributors to enhance their sales has raised $4.2 million in seed funding.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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