– An Insurtech MGA using Swarm Neural Networks to better underwrite climate change effected risks.
– Proprietary machine learning algorithms use more than seven billion lines of satellite, weather, and ground truth data to offer predictions on things like fires in California.
– Claims 84.6% accuracy in predictions
– In 2020 ‘the firm’s model predicted 11 of the 14 major wildfires in the top 10% most likely zones to have a fire this year. Out of the top 20% most dangerous, Kettle predicted 14 of the 14.’
Novee AI Raises £1.6M to Build Intelligence Layer for Commercial and Specialty Underwriting
Novee AI, a London-based insurtech startup, has secured £1.6 million in pre-seed funding to develop its AI-powered risk assessment platform for commercial and specialty insurance. The round was led by early-stage B2B SaaS investor 42Cap, with additional backing from Insurtech Gateway, a prominent investor in insurance technology.
