InsurTech100 company Humn has closed an additional investment from Shell Ventures and previous backer Marbruck Investments.
The company raised the equity to support its domestic and international roll-out, as they aim to become the European leader in fleet insurance.
Founded in 2018, the company consolidates fleet insurance and risk management to solve a need to transparent fleet insurance, it claims. The risk platform analyses more than 500 ‘in vehicle’ and external data points to offer an entirely contextual assessment of driver performance for dynamic insurance pricing.
Humn CEO and founder Mark Musson said, ”Partnering with Shell Ventures brings not only fresh capital, but also an investor with a thriving global connected fleet business and expertise to share. We are looking forward to working with Shell and bringing our class-leading motor fleet insurance product with explainable pricing to an even wider audience.”
The InsurTech recently secured an insurance from the Financial Conduct Authority and insurance capacity with delegated underwriting authority.
Humn also recently released its Rideshur solution, a tool product will enable it to process big data to create a risk scores for individual drivers, and this will generate premiums tailored to each driver.
Fellow InsurTech100 company ThingCo closed a $4.2m funding round earlier this month. The company offers a telematics device which helps provide accurate driving scores to help consumers get cheaper insurance premiums.
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