Blockchain-based InsurTech platform Candor Insurance has reportedly received a $3m investment.
The funding, which makes Candor’s valuation $9m, will be used to help with the development of its platform, according to an article by CoverageR.
Georgia-based Candor is an online private health insurance exchange, which offers a range of coverage options and comparison tools for clients and agents.
The platform is compatible with all major insurance carriers including Blue Cross/Blue Shield, United Health Care and Anthem, among others. The offering gives users tools to simplify product search, comparison and sign-up.
Through Candor, users can automate health insurance enrolment and renewals, while insurance carriers can partner to see trends and connect with potential customers. A 24/7 chatbot called Casey, which is AI-based, and human support helps provide clients with help needed.
Following this investment, total equity raised by the company has reached $3.61m, the article said.
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