Insurwave secures £5m in seed funding to expand its commercial insurance platform
The funding round was led by existing shareholders to support platform feature expansion.
Insurwave operates a commercial lines insurtech platform that automates and digitises complex insurance processes for multinational companies. The company connects risk owners, brokers, insurers and reinsurers to streamline operations.
Commercial lines insurtech platform Insurwave has secured £5m in a seed funding round to support its next phase of growth. The investment was backed by existing shareholders and will be directed towards expanding platform features to bring technology-enabled innovation to complex commercial insurance.
The capital injection follows a productive year of acceleration under Chief Executive Officer David Power, who joined the business a year ago. During his tenure, Power has restructured the company into a Software as a Service model and strengthened the leadership team to improve integration speed for clients across risk ownership, brokerage and underwriting.
The business aims to address rising demand for digital risk solutions as asset owners seek greater access to capacity. Insurwave provides tools for parametric contracts, automated premium calculation and risk performance ledgers to remove manual processes across the insurance ecosystem.
From the founder
"We are delighted by the industry’s response to Insurwave, as we continue to onboard clients across risk owners, brokers, insurers and reinsurers. We are mission-centric in our approach to provide a digital-first platform for complex insurance that can benefit the sector at large."
David Power
Chief Executive Officer at Insurwave
Use of funds
- 01Continue product development