Pinpoint Predictive, a leading risk assessment platform for P&C Insurers, announced it closed a highly anticipated Series A funding round led by prominent Insurtech VC Markd along with esteemed investors Jazz Venture Partners, Guidewire Ventures, Verstra Ventures, Navigate Ventures and Seraph Group bringing the total capital raised by Pinpoint to over $23 million.
Pinpoint’s technology, which utilizes machine learning and new, unconventional behavioral insights to deliver unparalleled precision to underwriting and actuarial decision-making and it is reshaping the P&C insurance landscape. And Pinpoint’s clients have seen improvement in loss ratios by an impressive 3 to 10 points with access to the earliest predictions available in the market.
Funding has been essential in accelerating the growth and development of Pinpoint’s platform, expanding its customer base, and further penetrating into home, auto and commercial markets.
KEY QUOTES:
“We are thrilled by the overwhelming response and confidence shown by investors who share our vision of revolutionizing the insurance industry through innovative AI solutions. This milestone is a testament to the amazing team we have here at Pinpoint as well as a recognition that Pinpoint is providing a game-changing platform to empower our clients to improve profitability and better serve their stakeholders. With this new funding, we are not just forecasting trends; we are setting them.”
-Scott Ham, CEO of Pinpoint Predictive
“We believe the future of insurance lies in embracing advanced AI solutions, and Pinpoint Predictive is a player in this transformative movement. We are proud to partner with Pinpoint to advance our mission helping the P&C insurance industry in their endeavor to balance profitable growth while serving their policyholders more equitably.”
-Parker Beauchamp, Managing Partner of Markd
