This means insurance carriers are dealing with more volume at a time when many of their employees are still working from home. On the renewal side, businesses are also making major changes to their operations, including the types of services they offer, or seeking additional coverage. For example, Planck anticipates higher levels of submissions as business owners who need to cut costs shop around for less costly policies. Its platform’s ability to provide real-time insights means it can help insurance providers keep up with increased inquiries during the COVID-19 pandemic, Tsur said. Planck provides insurance-related data analytics for more than 50 major business segments, including restaurants, construction and manufacturing, and insurance lines, like workers compensation and general liability. Planck provides large insurance companies with data analytics and though it doesn’t disclose its exact number of customers, co-founder and CEO Elad Tsur told TechCrunch it currently works with “dozens of commercial insurance companies in the U.S., and among them are more than half of the top-30 insurers.” Clients include Chubb, Great American Insurance Group’s Republic Indemnity and AIG’s Attune. The New York-based startup anticipates that clients will need to handle an influx of insurance requests as businesses adapt to the COVID-19 pandemic.Īll of the Planck’s existing investors - Viola FinTech, Arbor Ventures and Eight Roads - also participated, while Nationwide and Hannover Digital Investments joined as strategic investors. Placer.ai was established in 2014 and is based in San Francisco.Planck, an AI-based data platform for insurance underwriting, has raised a $16 million Series B led by Team8 Capital. BlueTail was acquired by Salesforce in 2012. “Noam and his team have done a remarkable job simplifying and standardizing how companies of all sizes support these business-critical use cases. As a result, they have built the new clear software leader in the industry, which represents an incredibly large market that can’t adopt Placer’s solution fast enough.”īen-Zvi’s previous business, BlueTail delivered social and data mining services for driving sales leads. “Placer’s rapid growth has been amazing to witness,” said Jeffrey Bazar, general partner at JBV Capital and new board member at Placer.ai. These companies leverage the product to improve site selection, leasing activities, marketing performance and attribution, property acquisition, asset management and more. Noam Ben-Zvi, co-founder and CEO, said: “The impact of the ‘retail apocalypse’ was accelerated by a fundamental lack of visibility into offline performance but empowering brands with accurate, reliable data enables them to navigate this new reality.”Ĭustomers include JLL, Regency, SRS, Brixmor, Verizon, Caesars Entertainment. The solution empowers professionals to improve decision-making, reduce risk and identify opportunities with accurate, reliable location data. Placer.ai’s SaaS platform claims to be the first to provide real-time access to location analytics and foot traffic data. The funding will be used to help grow Placer.ai’s US operation and expand the company’s R&D efforts to drive new product features and capabilities. The round was led by JBV Capital with participation from Aleph, Reciprocal Ventures, OCA Ventures, existing investors and a group of new strategic investors. The location analytics supplier for retail property has raised funding to drive new features, but stopped short of saying what they will be at this stage.
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