Insurtech Surer clinches US$1m seed funding

The startup was launched in September last year.

Singapore-based insurtech startup Surer has raised US$1m ($1.35m) in seed funding from Norwegian private investment company Kistefos, global specialist insurer Markel Corporation through its insurtech investing arm, Markel Digital Investments, and an angel investor. 

Launched in September 2020, Surer is a cloud-based insurtech platform that has created a digital ecosystem where insurance intermediaries and insurers can leverage its technology to supercharge workflows, processes, recruitment and distribution of products. Surer will help drive network orchestration, enabling efficient communication and transmission of information to help both parties serve the end policyholders better

Surer plans to use the fresh funds to bolster its core technology platform and invest in its tech team to deliver on its product roadmap.

Since its launch, Surer has seen strong traction with over 350 intermediary signups and demo requests, more than 1,000 insurance proposals sent and over $1.2m in gross written premiums (GWP) transacted on Surer. It expects to see the GWP transacted on its platform to cross the $2m mark by the end of 2021.