New Investment in AI-powered Insurtech

New Investment in AI-powered Insurtech

Insurteam provides software for travel insurance companies to simplify claim management and to improve the customer experience for their respective clients.

The company was founded by Saverio Patimo and Rafal Szumilas. Saverio brings valuable experience from two B2B technology startups, where he served as Sales Director. Rafal has over 15 years of expertise in software development, gained across various companies.

The AI-powered system allows policyholders to submit claims via WhatsApp in case of an incident (e.g. lost luggage) and quickly check if the damage is covered by their travel insurance. If coverage is confirmed, a direct payout is made. This enhanced customer experience can help reduce churn and improve customer satisfaction. A detailed product demo can be accessed via the following link. The platform autonomously manages the entire claims process, including reimbursement payouts. Insurteam estimates that claims management costs can be reduced by 80%. The software integrates seamlessly with insurers› existing claims management systems. The company demonstrates strong initial traction with a robust pipeline in the growing travel insurance market. Insurteam already counts two of Italy’s largest travel insurers, Nobis and Europ Assistance, among its customers.

This funding round is intended to enable Insurteam to expand its customer base in the DACH region. Spicehaus acted as lead investor in the funding round. You can find the official press release here

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