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Claims Business: Insurity and Instec, Arturo, CCC, Verisk By Claims Journal staff | May 11, 2021
Insurity Completes Acquisition of Instec
Insurity has completed the acquisition of Instec, a company based in Naperville, Ill. that provides analytics software to more than 300 property and casualty insurers.
Insurity, based in Hartford, Conn. said that acquisition enables it to expand into the $40 billion program business and broadens its offerings for managing general agents.
The program market is highly profitable, with specific risks known for each insured group. However, the program business is also highly competitive, with many P&C carriers competing each year to retain each risk group, Insurity said in a press release.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Arturo Raises $25 Million in Series B Funding for AI Platform to Help P&C Insurers and Banks Better Understand Physical Properties
April 27, 2021 GMT
Some of the insights Arturo’s AI engine is able to deduce from aerial, satellite and stratospheric photography (Photo: Business Wire)
Some of the insights Arturo’s AI engine is able to deduce from aerial, satellite and stratospheric photography (Photo: Business Wire)
CHICAGO (BUSINESS WIRE) Apr 27, 2021
Arturo, an AI-powered platform that derives property insights and predictive analytics from aerial and satellite imagery, raised $25 million in a Series B funding round led by Atlantic Bridge Capital, with participation from RPS Ventures and existing investors Crosslink Capital and IAG Firemark Ventures – the venture capital fund for IAG, Australia’s largest general insurer.