Inshur said it as received a $35 million capital raise from alternative asset manager Trinity Capital to invest in research and development of artificial intelligence technology to support its embedded auto insurance policies within the autonomous vehicle market.
The company recently surpassed 1 million policies sold in the United Kingdom, one of its core markets. The funding will help the insurtech expand in the U.S. and support its embedded insurance solutions for on-demand apps like Uber and Amazon Flex.
“This raise reflects our disciplined approach to insurance solutions for the on-demand economy. With Trinity Capital’s support, we’re accelerating our U.S. footprint, expanding key partnerships, and advancing our position in the future of insurance for autonomous mobility – all whilst laser-focused on profitability,” said CEO and co-founder Dan Bratshpis.
Bratshpis recently submitted content about embedded insurance in the on-demand economy. Inshur’s launch of the ‘Period Z program for on- and off-rental insurance for car rental fleets will support more fleet businesses across the U.S., and taking the lead in programs such as Uber’s ‘Bring Your Own Insurance’ initiative will empower more drivers to control their profitability, the company said.
Chief Financial Officer Tal Brener said Inshur has a goal of crossing $100 million in revenue run rate in less than a year.
Topics USA InsurTech Data Driven Artificial Intelligence Tech
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