Indemn Raises US$1.9 Million in Funding to Propel AI-Powered Insurance Platform
Indemn Raises US$1.9 Million in Funding to Propel AI-Powered Insurance Platform
AI-powered insurtech Indemn has closed a US$1.9 million pre-seed funding round - a milestone that highlights that Indemn's commitment to revolutionising how people engage with and purchase insurance coverage through the integration of AI.

The financing round, spearheaded by Markd, saw participation from prominent investors including Afterwork Ventures and Everywhere Ventures, alongside a consortium of distinguished entrepreneurs and insurance luminaries from Australia and the United States.

Founded in 2021, Indemn’s innovative platform represents a paradigm shift in the insurance industry, offering users a seamless interface to explore and procure insurance products through natural conversation driven by AI. By leveraging Large Language Models, Indemn’s platform facilitates accessibility to crucial information, product customization, and underwriting processes, all within an intuitive conversational framework.

Central to Indemn’s approach is the direct integration of AI agents into the customer experience, empowering users to interact fluidly with the platform. Moreover, for those seeking additional support, Indemn seamlessly transitions users to human agents, augmented by an AI-powered Copilot, ensuring a comprehensive and responsive service ecosystem.

Speaking about the funding, Kyle Geoghan, Co-founder & CEO of Indemn, said: “We’re thrilled with the initial funding and support from investors who believe in our vision to transform the insurance acquisition experience with Large Language Models. Creating a better way for people to interact with insurance has been a long time coming and we couldn’t be more excited to continue building the solution.”

Parker Beauchamp, Managing Partner at Markd also commented, saying: “The Indemn team, with its innovative product and early adoption of generative AI, is poised to improve the way insurance is purchased online. Far before the hype, the team’s expansive work with this tech was driven by a need to find a solution for the primary challenges within insurance distribution.”

He added: “This work is bolstered by Kyle’s deep understanding of insurance, accumulated from his background in a family agency and as an early employee at Coverwallet. All this aligns perfectly with our belief in supporting long-standing, existing insurance channels.”

Share this article: