Trailblazer Technology, which claims to be the first true multi-tenant cloud solution dedicated to smaller insurers, has closed its seed funding round.
The size of the investment was not disclosed.
ManchesterStory, an early-to-growth stage venture capital firm, served as the lead investor.
With the funds, the company will deepen its product suite to meet the demand in the market.
Trailblazer Technology is a multi-tenant cloud solution aimed at small insurers. It stated that despite over $100bn in P&C premium in the US being written by smaller insurers, none of the incumbent core-systems providers have technology specifically catered to the needs of small firms. This gap was why Trailblazer Technology was created.
Speaking on the investment, Trailblazer Technology founder and CEO Aaron Shapiro said, “Smaller insurers have been poorly served by traditional core-systems providers for decades.
“All insurance professionals should have access to amazing tools and consistent innovation regardless of the size of their organisation. When deeply experienced insurance experts choose to work at a smaller insurer, they should not be forced to utilise ancient legacy systems or watered-down versions of more contemporary platforms.”
ManchesterStory is no stranger to the InsurTech market. Earlier in the year, it joined the $17.1m Series A funding round of XP Health. The company is creating a digital-first platform looking to transform vision benefits for insurance carriers and companies.
Another InsurTech to get the backing from ManchesterStory is Just insure. The company, which develops pay-per-mile insurance technology, raised $8m in 2021.
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