Insurate
Insurate is a managing general agent (MGA) specializing in Workers' Compensation insurance for high-risk industries. By leveraging AI and data science in underwriting, Insurate offers competitive premiums and exceptional support to best-in-class companies, particularly those in hard-to-place risk categories. The company's innovative approach differentiates it in the market, allowing agents to effectively write and retain business while ensuring safety and compliance. Insurate's focus on data-driven risk assessment positions it strongly within the insurance landscape, catering to clients who require tailored solutions for complex insurance needs.
Insurate
Insurate is a managing general agent (MGA) specializing in Workers' Compensation insurance for high-risk industries. By leveraging AI and data science in underwriting, Insurate offers competitive premiums and exceptional support to best-in-class companies, particularly those in hard-to-place risk categories. The company's innovative approach differentiates it in the market, allowing agents to effectively write and retain business while ensuring safety and compliance. Insurate's focus on data-driven risk assessment positions it strongly within the insurance landscape, catering to clients who require tailored solutions for complex insurance needs.
TL;DR
Business model: Managing General Agent (MGA) for high-hazard workers' compensation
Differentiator: AI and predictive data science (Safe-Tier™) for granular underwriting and pricing
Founders: Joe McIlhon (Founder & CEO); Hossein Mousavi (Co-founder & CFO); Scott Weller (Co-founder & Senior Advisor)
Employees: 31
Known funding: Seed round led by HSCM Ventures; total funding reported $4,500,000 (USD)
Company Overview
Problem Domain
Workers' compensation insurance for high-hazard and hard-to-place risks.
Industry
Insurance
Funding Track Record
$4500000.00
Crunchbase lists a Seed round led by HSCM Ventures with five investors; company page states it is backed by a global community of investors and reinsurers.
Investor Signal
“Led by HSCM Ventures with participation from multiple investors including Revolution's Rise of the Rest Seed Fund”