Liberate, a Palo Alto, CA-based insurtech software-as-a-service platform, raised $7 million in seed funding and launched a P&C insurance platform to automate claims and underwriting. The round was by Eclipse.
The platform empowers insurers to deliver digital self-serve experiences and orchestrate an ecosystem of solutions providers and core systems to automate complex business processes, leading to significant reductions in costs and an unmatched experience for both customers and employees.
“P&C insurers need a new way to modernize quickly and cost-effectively to offer a better customer and employee experience and increase profitability – traditional approaches to modernization — like upgrading core systems — take too long, cost too much, and have questionable ROI,” said Amrish Singh, Founder and Chief Executive Officer of Liberate. “Liberate’s unique low-code platform addresses these hurdles and enable insurers to deliver an exceptional customer and employee experience, at a much lower cost, in a matter of months.”
The end-to-end platform provides insurers with a one-stop shop for building user-friendly front-end experiences for their end customers and seamlessly stitching together core systems and insurance solution vendors to automate complex business processes.
Company: Liberate Innovations Inc.
Raised: $7.0M
Round: Seed Round
Funding Month: January 2023
Lead Investors: Eclipse
Additional Investors:
Company Website: https://www.liberateinc.com/
Software Category: P&C Insurance Platform
About the Company: Liberate Innovations Inc. is a software-as-a-service (SaaS) platform for the P&C insurance industry to fully automate claims and underwriting journeys enabling P&C insurers to deliver an exceptional customer experience at the industry’s lowest cost. Insurers use the cloud-based low-code platform to build digital self-serve experiences and orchestrate an ecosystem of solutions providers and core systems to automate complex business processes. Liberate is on a mission to deliver the industry’s first end-to-end, straight-through digital claims experience.
Source: https://www.businesswire.com/news/home/20230105005150/en/Liberate-Innovations-Inc.-Closes-7-Million-in-Funding-and-Launches-PC-Insurance-Platform-to-Automate-Claims-and-Underwriting