BIP Features »

September 11, 2019 – 8:30 am | Comments Off on CNC investment puts Cube in good shape to deliver £2m new contract haul…


A leading Black Country manufacturing specialist is investing in a state-of-the-art multi-axis CNC milling centre to help it deliver £2m of new orders.
Cube Precision Engineering, which can handle single op prototype tooling to complex multi-stage …

Read the full story »
BIP business guides & tools

Please register/login to access content

BIP Access to Finance

Access to Finance,Grants & Business Support

BIP Features

West Midlands business highlights, opportunites and networking

Bips and Pieces

All the best from the web handpicked out by our team, including the World of tech

Business News

Latest West Midlands news affecting your business

Home » Business News

InsurTech Inzura.ai secures £1m funding from insurance industry leaders…

Submitted by on June 21, 2019 – 7:00 am |


Ian Richard 2Inzura.ai the UK based global InsurTech, has today announced it has raised a further £1m in a pre-A funding round. This follows a seed investment round in early 2018 and rapid growth in the UK and South East Asian markets.

Inzura works with brokers and insurers to deliver enhanced digital versions of their insurance products through smartphone apps, leveraging telematics, integrated dashcams and artificial intelligence (AI). With some customers already achieving over 30% improvements in loss ratio, Inzura’s digital products are customer focussed, cost significantly less to operate, reduce fraud, and enable greater pricing accuracy. 

Inzura’s revenue growth of over 65% in the last 12 months is expected to increase to 100% in the next year as a result of this latest investment round. The funding has come from well-known and respected insurance industry figures. Investors include Phil Bunker (ex. LV and NIG), Michael Blaney (Founder of Autoline), Julian Edwards (Chief Executive of MCE), and Paul Cosh (ex. Budget & Highway). Their support recognises the significant value of Inzura’s technology which has been designed to be deployed across the insurance industry and is applicable worldwide.

Headquartered in the UK, Inzura has clients in the UK, Singapore, Thailand and most recently in Indonesia. The new funds will be used to hire additional sales and support staff for these territories. Funding will also be used for ongoing research and development, particularly data analysis including machine learning and AI for dynamic pricing.

Inzura.ai Chief Executive and co-founder Richard Jelbert comments:

“Digital transformation is underway across the insurance industry and we make this process as rapid and simple as possible. Our data-rich platform enables products to constantly evolve. We are currently working with global insurance brands and brokers to deliver enhanced and personalised insurance services to their customers, without having to replace legacy systems.  We have exciting growth plans for Inzura. We have already created a strong international presence with major global insurers selecting us to deliver their digital strategies.”

Julian Edwards, Investor in Inzura and Chief Executive of MCE Insurance comments:

“I continue to be hugely impressed with the Inzura team and their approach to modernising insurance. Inzura represents an impressive investment opportunity for myself and the other experienced investors in this round.”


Go to the main page

Tags: , , , , , , , , , ,

We use Cookies - By using this site or closing this you agree to our Cookies policy.
Accept Cookies
x