– A provider of catastrophic risk data for insurance industry. It maps floodzones and offers comparable insurance quotes for purchase
– Claims that it was able to map flood damage from Hurricane Harvey 60% more accurately than the federal maps provided by FEMA, whose maps are not updated regularly
– Also offers D2C product – 5 min questionnaire, then uses remote sensing tech to confirm if any catastrophe has occured. Offers cash 4-5 days after catastrophe (claims traditional/federal aid takes 6-12 months)
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.
