Exclusive: Insurtech Liberate Innovations raises $7M
Summary
Liberate Innovations, a maker of tech for insurers to automate claims and communicate with their customers, raised $7 million in seed funding.Why it matters: The new company is launching at a time when insurers are battling rising costs amid rising inflation and a surge in extreme weather macro factors that impacts the entire industry.Details: Liberate pitches itself as a way to streamline functions for insurers and ease some of that inflationary cost pressure building up. Co-founded by former Metromile executive Amrish Singh, Liberate automates the collection of claims requests, payments information, and data needed for the underwriting process. Liberate integrates with other vendors, allowing customers to find a repairman or book a rental car within an insurers app. It also allows customers to build their own app. "We want to be a one-stop shop for engagement between customers and insurers," says Singh.Of note: Founded in April 2022, Liberate now has 11 employees, and plans to add two to three staffers every month or so.
Funding
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