Reinsurance technology developer Riskbook has received £2m in funding to help it “revolutionise” the placement process.
Capital will also be used to bolster its position in the market, make new hires and enhance its reinsurer interface. The company will also launch a new tool for cedents, which will automate the preparation and validation of submission exhibits in collaboration with their brokers.
This investment was backed by Episode 1 Ventures, MMC Ventures and Seedcamp.
Riskbook is an independent reinsurance technology startup that enables companies to improve the user experience and enable the seamless flow of actuarial-grade data across the traditional value chain.
Episode 1 Ventures partner Damien Lane said, “We are thrilled to be partnering with Riskbook as they build a market-leading independent reinsurance platform. We loved the team’s combination of deep market insight gained from years of industry experience and their hugely impressive technology capability.
“In a short space of time, the team has built something that has had an enthusiastic reaction from all sides of the market and all the investors are looking forward to working with Jerad and Ben to continue to deliver game-changing solutions to the industry.”
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