The company has created a mobile application that allows users to purchase insurance plans at their convenience. They offer personal insurance and episodic insurance to help users and customers be protected. Sure's platform is proprietary and offers ratings, quotes, policy issuance, premium collection, CRM policy administration, reporting, and more.
The platform has five components:
Sure's Distribution component is utilized as a rating engine, quoting engine, and performs policy binding and issuance and premium collection. It's used to calculate policy rates and generates quotes based on tens of billions of quotes. The Policy component provides policy administration, systems of record, and reporting. Claims offers FNOL, adjudication, and a payment system. The component for Agents allows users to access omni-channel communications, digital workflows, and agent distribution. The API is completed with developer tools and an SaaS infrastructure that integrates SSO, CRM, and marketing automation.
On June 14, 2017 Sure insurance competed their series A funding round with $8 million in funding from IA Capital Group (lead investor), FF Venture Capital, Plug and Play Insuretech, Nationwide Ventures, Menlo Ventures, Fosun RZ Capital, Assurant Growth Investing, Arab Angel Fund, and Amtrust Ventures.
Insurance startup Sure raises $8 million and launches smartphone protection based on virtual diagnostics
June 14, 2017
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