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Insurance Technology: Certificate Hero and TNEDICCA Attract Investors

April 5, 2022

Certificate Hero Raises $4.5 Million for Certificate of Insurance Processing Platform

Certificate Hero, a platform for issuing and managing certificates of insurance, reported it received $4.5 million in funding in its Series Seed II round led by RRE Ventures. The company has raised $6.5 million to date.

Certificate Hero reviews insurance requirements and then leverages agency management system connectivity to automate the process of issuing certificates.

As part of the round, Raju Rishi from RRE Ventures joined the board of directors. Raju and RRE have previously led investments in startups reinventing other insurance services industries.

TNEDICCA Raises $1.75 Million to Reduce Traffic Accident Risk

TNEDICCA, a location-based traffic crash intelligence and predictive analytics firm, has closed $1.75 million in Series A funding to continue its mission of reducing traffic accidents.

Leading the round was Tengro Ventures along with previous investors, Pixel Perfect Ventures and Grange Insurance, an early adopter of the technology and strategic partner. This funding round also included support from other previous investors.

TNEDICCA identifies accident hotspots, and assigns crash risk scores to locations, enabling consumers and insurance companies to manage their risk accordingly. The company has built a comprehensive accident location database with more than 30 million crashes covering 91% of the U.S. auto insurance market.

TNEDICCA said its traffic crash data and location risk analytics products are now available in 40 U.S. states and the UK and have been adopted by more than a dozen insurance companies including Swiss Re, Grange Insurance, and Buckle.

The company said its telematics and non-telematics risk scores are “empirically proven to enhance pricing precision and better risk selection.”

TNEDICCA has begun to expand into adjacent markets such as life insurance and last-mile delivery services for large self-insured logistic companies.

Chris McKay, managing principal of Tengro Ventures, has joined TNEDICCA’s board of directors and will serve as chairman.

According to TNEDICCA’s crash database, the overall number of car accidents in 2022 thus far this year has risen 14% compared to 2020 at the onset of COVID-19. The company believes that trends of increasing mileage and traffic accidents heighten the importance for insurers to precisely assess their risk and for fleet operators to more effectively manage their loss control process.

Topics InsurTech Tech

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