Sure announced that it has raised $12.5m in a Series B round led by W. R. Berkley Corporation, bringing its total funding to date to $23.1m. The new funding will enable the company to scale the SURE app (consumer product), the SURE Platform (for global consumer brands and carriers), and SURE Connect (for affinity programs, eCommerce and Fintech partners).
Founded in 2014, Sure offers a variety of insurance products such as renters, travel, rental car, individual items, smartphones, rideshare (for passengers), and commercial BOP and liability. The startup originally launched with a B2C model and has since added a new vertical – offering its insurance platform to carriers and other brands that are interested in offering insurance products. Sure’s platform offers different features that include underwriting, claims, policy administration, billing and payments, and reports. The startup powers Toggle – Farmers’ digital insurance brand, and according to its site, Markel, Assurant, Chubb and even Tesla are clients:
“SURE powers insurance programs for carriers and global consumer brands through our focus on creating innovative insurance experiences and delivering an end-to-end solution. The funding by W. R. Berkley Corporation is a testament to our skill and overall ability to create value for insurers and customers unlike anyone else.” – Sure’s cofounder and CEO Wayne Slavin.
“We’ve been providing insurance solutions for over half a century, through more than 50 Berkley companies, with deep expertise in a specific industry, product line, or geographic niche. SURE’s best in class technology platform is modernizing the way insurers offer insurance and the way consumers access it. We’re excited to both lead this funding round and to partner with SURE to develop innovative digital solutions to better serve our customers.” – Michael Nannizzi, director of investments, W. R. Berkley Corporation.