Eos Venture Partners has made its first two investments from its debut fund backing InsurTech startups Concirrus and Digital Fineprint.
Concirrus is a marine insurance analytics platform which leverages AI technology to analyse datasets in real-time to support insurers, reinsurers and brokers with quantifying risk. By integrating with a client’s existing system, it combines the data with historical claims information and uses AI to identify behaviours which correlate to claims.
Digital Fineprint is an SME- focused lead generation and underwriting solution. The company helps insurers and brokers use data analytics to prioritise attractive risk segments, such as risk scoring, benchmarking and claim indicators. Its services include propensity to buy analysis, automated customer needs identification and tailored product recommendations,
While it is unclear how much Digital Fineprint has raised through this investment, the funding to Concirrus was part of a wider £5m round which was also backed by IQ Capital.
Concirrus CEO Andy Yeoman said, “Eos involvement has been transformational for Concirrus. Through their strategic relationships they have helped us win new clients, have introduced us to a number of companies that are now important strategic partners whilst also helping with our product focus.”
The firm’s maiden investment vehicle, EVP I, is looking to raise a total of $100m, but it is unclear whether the Eos has reached this goal and closed the fund. The vehicle will back early and growth-stage technology companies which are building solutions to accelerate innovation and transformation across the insurance space.
Earlier in the year, Digital Fineprint closed a $2.7m funding round which was led by Pentech and was also supported by Force Over Mass.
Copyright © 2018 FinTech Global