Insurance analytics platform Sustema has closed its seed investment round to support the growth of its platform.
The round was led by Swiss ICT Investor Club.
Sustema, which is headquartered in Zurich, offers behavioural analytics to help commercial insurers to transform their underwriting performance.
It claims to have strengthened it market position, with underwriting performance gains averaging 28% across a broad range of portfolios with five different commercial insurers.
It claims this growth was driven by its cloud-based service, which offers behavioural analysis based on publicly accessible data of more than 17,000 companies around the world.
SICTIC lead investor Peter Kessel said, “With its highly scalable software as a service (SaaS) model, Sustema is targeting a global market worth around USD 900 billion.
“Thanks to its deep understanding of the needs of the insurance industry, its comprehensive technical expertise and its strong entrepreneurial spirit, the Sustema team is very well positioned to tap into this high-potential sector and accelerate the growth of its business.”
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