The funding spherical for Assureful was led by Markd with participation from Greenlight Re Improvements.
Assureful is the primary insurance coverage supplier to combine with main e-commerce marketplaces similar to Amazon, Walmart and eBay, in addition to companies similar to Shopify. It goals to supply customised, embedded usage-based and month-to-month billed insurance coverage premiums primarily based on sellers’ precise gross sales quantity and product classes.
Moreover, it makes use of generative AI and machine studying to fee, worth and underwrite necessary insurance coverage protection for e-commerce companies of all sizes.
As well as, Assureful plans to make use of the funding to hurry up its product roadmap and buyer acquisition efforts.
“We’re thrilled to shut this preliminary funding spherical and have the help of traders who imagine in our imaginative and prescient to reinvent insurance coverage for e-commerce sellers,” mentioned Rohit Nair, founder & CEO of Assureful.
“Marketplaces similar to Amazon and Walmart make carrying applicable insurance coverage necessary. This capital will assist us proceed enhancing our proprietary expertise and product choices as we scale as much as serve this fast-growing buyer base. We’re proud to be the primary within the trade taking this contemporary strategy.”
Entry essentially the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Achieve aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain electronic mail will arrive shortly
We’re assured concerning the
distinctive
high quality of our Firm Profiles. Nevertheless, we wish you to take advantage of
useful
determination for your corporation, so we provide a free pattern which you could obtain by
submitting the beneath type
By GlobalData
Parker Beauchamp, managing associate of Markd added: “The Assureful staff has deep experience in insurance coverage and e-commerce having scaled and exited numerous their very own e-commerce corporations. We imagine this makes them well-positioned to be an exquisite associate to e-commerce sellers. We stay up for seeing them increase entry and availability of complete, pretty priced insurance policies for what we imagine is an underserved buyer section.”
Assureful is a nationally licensed coverholder at Lloyd’s of London. Assureful’s proprietary ‘Pay-as-you-Promote’ Industrial Basic Legal responsibility Insurance coverage insurance policies have been designed particularly for e-commerce sellers.
