Singapore-based Surer, a cloud-based InsurTech platform, has collected $1m in its seed round.
The round was supported by Norwegian private investment firm Kistefos, venture capital firm Antler and an unnamed angel investor.
With the capital, Surer plans to deepen its technology platform and invest into its tech team to support its roadmap.
Surer launched in 2020 as a digital ecosystem where insurance intermediaries and insurers can leverage technology to improve their workflows, processes, recruitment and distribution of products. Surer’s technology drives network orchestration, enabling efficient communication and transmission of information to help parties better serve policyholders.
Since it launched, the company has had 350 intermediary signups and demo requests. It has also had 1,000 insurance proposals sent and more than SGD 1.2m ($890,000) in gross written premiums transacted on its platform.
Gordon Tay co-founder said, “With the new funds, we believe Surer can further capitalise on our unique position to build a fully connected digital ecosystem that drives a ‘triple-win’ situation where policyholders can be served with greater quality because of a highly efficient intermediary sales force that can now scale their business without impediments which ultimately delivers more business for Insurers.
“This digital ecosystem will eventually include merchants who wish to package insurance with the products they are selling. Kistefos has a strong track record and understanding of support for its portfolio companies while the commitment of an influential industry player like Markel confirms the potential of our business and solution.”
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