Insurtech Slide raises $ 100 million in Series A funding

Series Entrepreneur and Slide Creator, Bruce Lucas insurtech has the domain knowledge needed to transform the landscape. Its latest startup, Slide, has just raised $ 100 million in a Series A funding round. The funding will help the company build data-driven technologies and operations. Lucas says: “I know that the future of insurance lies in insurance technology and the ability to apply technology to an underlying insurance asset with higher margins to create a better user experience. [and] go for a more digital platform. ” Slide will use AI capabilities and data science to provide customers with a tailor-made quote on an industry-leading user experience (UX) platform. The founders ’team comes from some of the most successful companies in a variety of fields, including financial services, insurance and technology.

The slide will focus primarily on profitable businesses, where AI can be a game changer. The Slide platform creates projections based on more data points than anything else on the market. Lucas understands that without good data AI will not go far enough to be useful. “I have a data set of more than $ 3 trillion as the core of the engines created by our AI,” says the next small insurance company that uses artificial intelligence, offering Slider a significant Big Data advantage. Large data sets provide better reliability. The slides show the micro-attributes of each risk and the applicant’s claims trends, credit score, claims submission history, etc. examines them to obtain an accurate loss ratio.

Since its inception in 2021, Slid has garnered a lot of attention among investors across the country because Lucas has an excellent entrepreneurial career. After moving to his law firm in Florida in 2008, he bought from First Home Bank and raised $ 1,000 in assets, putting the bank at the level of the largest SBA lender in the United States. Then, in 2012, Lucas created Heritage Insurance, and made the rocket. from the start of the company to the IPO in just 20 months. The Slide team is excited that Gries Investment Funds and Tampa Bay Ventures did better than expected in their Series A financing rounds.

Always looking for the next challenge, Lucas went through Heritag to start Slide with the goal of integrating artificial intelligence and data science to modernize the insurance procurement experience. Slide wants to change the way insurance is conducted, using modern technology to reduce risk, increase personalization, and predict trends. The company wants to provide customers with what they need, not a kitchen sink.

Asked how climate change affects the projections, especially considering that many of the businesses that Slide supports are doing in Florida, Lucas noted that climate change is real. He has seen its impact first-hand, and using the Slide to integrate the latest data sets into projections, he believes the company will have the most comprehensive and accurate risk assessment available. Lucas continues to learn about things like enforcing local building codes and violations to understand if an area will offer more risk than profit. His extensive experience in the insurance industry is well suited to kick-start the future of insurtech.

Lucas is confident that he has the domain knowledge to change the insurance landscape, to be at the forefront of the transition to digital, accurate and profitable AI-based budgets, which will better benefit consumers and the company. Investors agree that they approached the company with this latest injection of $ 100 million in hopes of being at the forefront. insurtech boom.

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