INSHUR, the multi-award-winning embedded insurance provider for the on-demand economy, has recently closed a funding round securing $19m.
This round was spearheaded by Viola Growth, joined by MS&AD Ventures and other existing investors, elevating INSHUR’s total funding to an impressive $78.5m since 2019.
The company is recognized for its tailored insurance solutions catering to gig economy platforms and their workforce, such as drivers for Uber and Amazon Flex. INSHUR’s growth strategy, which drove nearly fourfold increase in 2023 following the acquisition of American Business Insurance Services, is focused on expanding its footprint across the US and enhancing its global offerings.
With the fresh capital, INSHUR aims to scale its operations more broadly within the US, forge and deepen relationships with significant platform partners, and continue augmenting its global team of experts in insurance and technology.
The recent appointment of Bill Walrath as the Director of US Markets underscores INSHUR’s commitment to leadership in the insurance sector. Walrath, with over two decades of experience, will oversee key business operations including reinsurance and carrier management.
Dan Bratshpis, CEO and Co-Founder of INSHUR, emphasizes the transformative nature of the on-demand economy, stating, “The future is on-demand. In just a few years, the way we access services like taxis and the way we purchase our groceries and pizzas has changed forever. In fact, our report found that nearly half of on-demand drivers had doubled their hours in 12 months. As the on-demand economy gains momentum around the world, it’s our mission to support the world’s biggest platform and insurance partners in ensuring that insurance coverage is fair and accessible for on-demand economy drivers.”
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