Insurmi raises $1M
Insurmi, a conversational-AI powered customer engagement platform for insurance carriers, has secured an additional $1 million in funding to accelerate market expansion and grow the team at its headquarters in Phoenix. The round was led by Coplex with participation from a group of prominent international angel investors and the Global Insurance Accelerator (GIA).
After turning industry heads when it debuted in 2017, Insurmi validated its model by attracting a diverse array of customers from across the insurance sector, including two Fortune 500 insurance carriers. This injection of capital further validates the demand for technology-driven solutions in the insurance industry to meet the needs of up-and-coming generations.
“Today’s carriers are challenged by engaging with a consumer base that is now largely skewing toward 20- and 30-somethings. The Insurmi platform empowers them to create meaningful experiences and interact on the customer’s terms,” said Sonny Patel, founder and CEO of Insurmi. “This new capital injection will accelerate our growth and strengthen our position as true allies to insurance carriers to help them transform how they communicate and engage with the next generation of the insured.”
Patel founded the company in 2016 after recognizing how unnecessarily cumbersome and outdated the process of buying and selling insurance was, particularly when taking into account the buying behaviors of millennials and Gen Z. He developed Insurmi as a solution that would simplify and take the guesswork out of the insurance buying process and has since evolved into a suite of digital tools that will enable carriers to continue to thrive throughout the 21st century.
“Insurmi is solving a prominent challenge in the insurance industry by leveraging next-generation technology to modernize the way carriers reach and engage with future generations of insurance buyers,” said Zach Ferres, CEO of Coplex. “Besides Insurmi’s strong technological core, the company is also anchored by a purpose-driven team of industry experts who deeply understands its audience. We partnered with GIA to help usher Insurmi into their next phase of growth because we believe in Insurmi’s mission and vision for revolutionizing the insurance customer experience.”
