The company uses data to identify and manage risk, while reducing the waste of critical assets. According to a statement, its technology is currently monitoring the vaccines of nearly 200 million people.

The Series B funding is led by HSCM Ventures, the venture capital arm of Hudson Structured Capital Management, specializing in the insurance and transportation sectors. Other participants in the round include strategic investors Lineage Ventures, the technology investment arm of Lineage Logistics, Flexport Ventures, several executives from the insurance and perishables industries, and existing investors GLP Capital Partners and Luna, Lucy Ana Walton’s investment fund.

As part of this funding round, Parsyl is also launching a US-based general underwriter, while Adrian Jones, a partner at HSCM Ventures, will join the company’s board of directors.

Jones said in a statement, “Parsyl operates at the intersection of insurance, technology and social impact. Parsyl’s risk management and insurance solutions help ensure cold chains are maintained for vaccines, perishables arrive weather-damaged, and financial protection is in place in the event of damage.

According to its website, Parsyl was founded in 2018 with the goal of “ending the days of sailing and praying.” It uses data and technology to protect critical supply chains with modern risk management and more comprehensive insurance coverage.

Parsyl has repeatedly made headlines on Reinsurance News. In September, he hired Gavin Spencer as head of insurance, where his role was advertised as product and business development.

And, in June, the company said it set a record for settling a marine freight insurance claim in less than eight hours. The claim in question related to an air shipment of spoiled fresh cod.

Source: Tagsarea