Sypher, a Florida-based (re)insurance and technology company focused on coastal property markets, has raised $5.25 million toward a $15 million equity offering. Founded in 2022, the company offers coastal homeowners programs, reinsurance structures, and an AI-enabled ‘Risk Co-Pilot’ designed to support pricing, portfolio management, and exposure insights.
Insurity announced its latest Andromeda software release, part of a $50 million investment in AI and R&D aimed at giving carriers, MGAs, and brokers faster quoting, clearer pricing, and more automation.
Onics, a Denmark-based IoT provider, is expanding into the UK home insurance market after gaining traction with Nordic carriers. The company uses sensors and connected-home devices to reduce water-leak, fire, and burglary losses while feeding structured data into underwriting and claims models.
Redrob.io, an AI research startup with operations in the US, India, and South Korea, has closed an $8.5 million Series A round led by Korea Investment Partners, bringing its total funding to $16.5 million. Redrob builds enterprise AI tools aimed at delivering high performance at lower cost, positioning itself as an option for companies and users priced out of premium AI subscriptions.
Counterpart has expanded its Affirmative Artificial Intelligence Coverage and added a Technology Errors & Omissions Insuring Agreement to its Miscellaneous Professional Liability and Allied Health products. The move aims to address growing gaps in liability coverage stemming from AI-related risks.
Source: Insurance Innovation Reporter — Read More • Counterpart
