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TMCNet:  AI-Powered Insurmi Secures Funding to Modernize How Insurers Engage Customers

[September 19, 2019]

AI-Powered Insurmi Secures Funding to Modernize How Insurers Engage Customers

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Patel founded the company in 2016 after reognizing how unnecessarily cumbersome and outdated the process of buying and selling insurance was, particularly when taking into account the buying behaviors of millennials and Gen Z. He developed Insurmi as a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."

About Insurmi

Insurmi is a conversational-AI powered customer engagement platform for insurance carriers. The digital engagement platform is used by top-tier global insurance carriers to give them a competitive edge on generating new business online, streamlining customer claims, and delivering an overall better customer experience through next-generation technology. Learn more at www.insurmi.com.

About Coplex

Coplex is a Venture Builder that partners with industry experts, entrepreneurs, and corporate innovators to start high-growth tech companies. The structured Venture Builder programs at Coplex provide a proven process and teams to shape business modules, quickly test and validate critical assumptions, assemble an operating team, build technology, bring concepts to market, and support in fundraising at graduation. Coplex has started over 50 tech companies since 2017 and has been featured in USA Today, The Washington Post, VentureBeat, Inc, Forbes, NPR (News - Alert), and Entrepreneur. Learn more at www.coplex.com.

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