Greenlight Re Innovations – part of Greenlight Capital – is to invest in Blueprint Holding, a full-stack title insurance company with a focus on digitalisation and the integration of technology.
Greenlight Re provides multi-line property and casualty reinsurance through its licensed and regulated reinsurance entities in the Cayman Islands and Ireland.
The company launched its Greenlight Re Innovations unit in 2018, which supports the technology innovators in the reinsurance space by providing investment, risk capacity, and access to a broad insurance network.
According to Greenlight, the title insurance market has historically experienced outsized expense ratios driven by agency commissions. Blueprint reduces these costs by centralising underwriting and agency operations under a full-stack carrier, significantly reducing the expenses per file.
Steve Berneman, CEO at Blueprint, said, “Buying real estate has been too difficult for too long. The ‘Single Family Residential’ asset class should be accessible to all, and that’s only possible if title and escrow take a modern approach to transactions.”
This is the second funding round raised by Blueprint in three months. The InsurTech company previously raised $16m in September for its Series B, with Forté Ventures as the lead investor.
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