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Parsyl Secures $20M in Series C Funding to Revolutionize Cargo Insurance Solutions
Parsyl, a US and London-based cargo insurance provider, has raised $20 million in a Series C funding round led by The Lightsmith Group, with participation from other investors like HSCM Ventures and GLP Capital Partners. Founded in 2017, Parsyl aims to enhance marine cargo coverage for goods in storage and transit. The funding will be used to strengthen their team and technology, expand underwriting capabilities, develop new insurance products, and enter new markets. CEO Ben Hubbard expressed excitement about the investment, highlighting its importance for innovation and climate resilience in supporting global supply chains. Parsyl has raised a total of $66 million to date.
Cytora Strengthens Advisory Board with Insurance Veteran Clive Buesnel’s Expertise
Cytora, a London-based InsurTech company, has appointed Clive Buesnel to its global advisory board to enhance its growth strategy and innovation in the insurance sector. Buesnel brings extensive experience, having served as CEO of Tysers and Vice Chairman at Deloitte. Cytora utilizes artificial intelligence to improve risk management for insurers, brokers, and reinsurers, focusing on digitizing workflows and enhancing efficiency. His addition strengthens an advisory board featuring industry leaders and aims to accelerate Cytora’s mission to transform the insurance landscape through strategic partnerships. Both Buesnel and Cytora’s CEO, Richard Hartley, express excitement about the potential for industry innovation.
Foliume Secures $1M Seed Funding to Revolutionize AI-Driven Insurance Distribution
Foliume, a company automating insurance processes, has secured $1 million in seed funding led by Pitchdrive and Telefónica’s Wayra. This investment will enhance Foliume’s AI assistants, designed to improve efficiency in quote generation, policy renewals, and customer service for brokers and agents. By addressing inefficiencies in the insurance sector, Foliume aims to transform lengthy workflows into streamlined operations, enabling brokers to focus on client advisory roles. Plans for European expansion include upgrading AI capabilities and forming strategic partnerships. CEO MartÃn Fagioli emphasizes the goal of alleviating time-consuming tasks, enhancing customer experiences in the insurance industry.
Unlocking Predictive Power: How Earnix’s Auto XGBoost Lab Revolutionizes Modeling
In the evolving financial sector, institutions face pressure to leverage data for better decision-making, prompting a shift from Generalized Linear Models (GLMs) to machine learning (ML) models like XGBoost. Despite their advantages, deploying these models remains challenging due to infrastructure and integration issues. Earnix addresses this with its Auto XGBoost Lab, simplifying the implementation of XGBoost for pricing and risk assessment in insurance and banking. The lab features an intuitive interface, automated hyperparameter tuning, and seamless ONNX integration, allowing institutions to focus on AI-driven insights rather than technical complexities, thus enhancing the efficiency of financial analytics.
Akur8 and Deloitte Canada Join Forces to Revolutionize Pricing and Reserving Strategies for Insurers
Akur8 has expanded its strategic partnership with Deloitte Canada, originally formed in 2021, to better support property and casualty (P&C) insurers. The collaboration integrates Akur8’s machine learning-driven pricing and reserving solutions into Deloitte’s actuarial services, enhancing pricing accuracy and streamlining reserving processes. Akur8, serving over 250 clients globally, including major insurers like AXA and Munich Re, aims to leverage this partnership to modernize insurers’ strategies. Leaders from both companies expressed enthusiasm about combining innovative technology with actuarial expertise to improve efficiency and compliance in the insurance sector.
Transforming Healthcare: How AI Agents are Revolutionizing Business Growth
Administrative tasks account for a large portion of the over $4 trillion spent on U.S. healthcare annually, yet only 25% of members use digital services, overwhelming call centers. Ushur’s AI Agent for Member Service aims to improve this situation by providing a HIPAA-secure, scalable solution that enhances member interactions. It features healthcare-specific intelligence, empathetic conversations, and complies with privacy regulations. Key benefits include faster resolutions, 24/7 support, and improved member satisfaction through proactive engagement. With advanced features like multilingual support and seamless integration, Ushur’s AI Agent is set to revolutionize healthcare engagement and improve operational efficiency.