Concirrus closes $20m in Series B led by AlbionVC
Summary
The company has developed a behavioural-based underwriting platform called Quest which delivers portfolio management and predictive analytics using the latest advancements in big data aggregation, AI and machine learning Concirrus closes $20m in Series B led by AlbionVC. (Credit: Adam Radosavljevic from Pixabay) Leading marine and automotive insurtech Concirrus has announced that it has closed a $20 million Series B funding round led by AlbionVC. The company has developed a behavioural-based underwriting platform called Quest which delivers portfolio management and predictive analytics using the latest advancements in big data aggregation, AI and machine learning. Andrew Yeoman, CEO at Concirrus says: “According to Willis Towers Watson, insurtech investment reached an all-time high in 2019 and this year will be very much characterised by companies that are able to break through. This funding enables us to deliver this.” Robert Whitby-Smith, Partner at AlbionVC, says: “Concirrus has established itself as the category leader in the application of predictive analytics powering a behavioural underwriting platform, and is providing the global ecosystem (including asset owners, brokers, insurers and capital providers) with the information and the tools to transform a fundamental aspect of their businesses – the way they understand, price and manage risk.