Insurtech ennabl, which connects data silos to help insurance brokers manage clients effectively, has raised $4m in a seed funding round, led by Vine Ventures.
Other private participants also joined the fundraising.
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The firm will use the infusion to grow its headcount, including engineers, insurance technology professionals, and data experts.
It will also expand its platform utilising the capital.
ennablfounder Kabir Syed said: “The insurance brokerage industry is on the cusp of a radical change, and ennablis positioned at the forefront.
“ennabl provides brokers with the tools to be more effective and efficient. More importantly, they no longer need to make huge investments in technology and data to transform the way they work.”
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By GlobalDataThe insurtech supports client acquisition and servicing processes by offering tools to collect industry and customer and industry data.
ennablDATA, a Data-as-a-Service (DaaS) offering for insurance brokers, serves as the foundation for the ennabl platform.
It has the ability to connect brokers’ data and extract structure from multiple disconnected systems, leveraging artificial intelligence (AI) technology and algorithms .
Besides, it automatically standardises and dedupes client and policy information as well as builds on brokers’ data with industry, COPE, behavioral, and demographic data.
Furthermore, an analytical search engine called ennablDECISIONS helps brokers and agents gain access to advanced insights.
“By eliminating re-keying, information silos and data entry errors, producers can focus on servicing clients and building their businesses,” the insurtech said.
