New York-based insurance startup Sure has raised $8 million in a series A round of funding led by IA Capital, with contributions from Menlo Ventures, FF Venture Capital, Nationwide Ventures, Assurant, and AmTrust.
The start-up promises on-demand coverage for everything from apartments to pets, flight cancellations, and weddings. The company also said it uses an AI-powered “robo broker” to help users find the best insurance.
In addition, Sure said that it is launching what it describes as a “first-of-its-kind smartphone protection” product. The insurance can be purchased any time during a mobile phone’s lifetime, with Sure able to remotely test the health of a device before issuing a policy. The technology, which Sure said is “patent pending,” allows the company to carry out diagnostics in less than a minute directly through the Sure mobile app and test things like battery, memory, CPU, and more entirely autonomously.