Loro Insurtech, a Dover, Delaware-based company that provides no-code insurance technology solutions, secured $750,000 in a seed funding round led by prominent insurtech investor Markd.
The investment will fuel Loro's continued growth and enable the company to enhance its solution further. The funds will be used to expand the team, accelerate product innovation, and drive adoption among insurers seeking a seamless and cost-effective solution.
Loro Insurtech has been disrupting the insurance industry by empowering businesses with its no-code technology. With Loro's platform, insurers or MGAs can quickly create, customize, and deploy insurance products without any upfront investment.
Additionally, Loro's solution is completely free for the first $100,000 GWP every year, providing unmatched accessibility and affordability.
"We are thrilled to partner with Markd as our lead investor along with key figures from the industry," said Peter Tilbrook, CEO of Loro. "Their support validates our vision of revolutionizing the way insurance software is implemented and used. With Loro, insurers can create and manage tailored insurance products, supercharge their distribution, and gain significant competitive advantage."
Loro's dedication to simplifying insurance processes and eliminating barriers to entry has gained significant traction in the market. This latest funding round positions the company to expand its market presence and build on its user base across four continents.
Company: Loro Insurtech, Inc.
Round: Seed Round
Funding Month: June 2023
Lead Investors: Markd
Company Website: https://www.loroinsurance.com/
Software Category: No Code Insurance Platform
About the Company: Loro Insurtech is a no-code, multilingual, immediate solution designed to digitalize insurance, built for any insurance product, anywhere in the world. Users maintain full underwriting control and have unlimited distribution opportunities. Loro is the only free insurtech solution with no minimum commitment. Loro Insurtech operates as a software-as-a-service (SaaS) platform. The platform offers The Loro Toolbox that provides reporting, mid-term adjustments, claims, payments, application programming interface (API), and more. It allows insurance companies to take their online products anywhere with no code. It was founded in 2021 and is based in Dover, Delaware.