AI-Driven Insurance Platform Indemn Raises $1.9 Million

New York-based Insurtech platform Indemn announced it has closed a $1.9 million pre-seed funding round.

The round was led by venture capital firm Markd, with participation from Afterwork Ventures, Everywhere Ventures, and a group of investors from Australia and the U.S.

Established in 2021, Indemn’s platform uses artificial intelligence to make information, product configuration, and underwriting accessible through natural conversation. It calls itself the “first fully conversation native insurance platform.”

Its AI agents support all aspects of digital insurance, from quoting to purchase, promising to reduce operational costs across distribution channels. The customer works with AI and, when it’s desired, the AI agents connect the customer to human agents supported by an AI powered copilot.

Kyle Geoghan is co-founder and chief executive officer. His background includes a family insurance agency and being an early employee at Coverwallet.

Indemn makes its platform available to insurers and it also sells some event insurance direct to consumers.

Topics InsurTech Data Driven Artificial Intelligence