Kansas based AI powered insurance platform RiskGenius raised a $2.95m Series A extension funding round led by QBE Ventures.
The round was led by QBE Ventures, an Australia-based firm known as being among the world’s top 20 insurance companies. In addition to the funds, QBE North America will be the first division to fully implement the RiskGenius platform. The company is expected to upload about 125,000 policy documents by 2018.. “QBE North America completed a proof-of-concept of the RiskGenius platform earlier this year, and saw great results leveraging the company’s proprietary, machine learning product to compare policies as part of our product development process,” James said in a release. “From that proof-of-concept, we’ve now signed a multi-year commercial use agreement, and plan on implementing the RiskGenius platform across all our business units in North America during the first half of 2018.”