Artemis ILS NYC 2020

Menu

Reinsurance News

Insurtech Tensorflight closes $2m funding round

26th June 2019 - Author: Charlie Wood

Insurtech startup Tensorflight has closed a $2 million round of funding as the company looks to scale its computer vision risk assessment service for commercial property insurers.

The round was led by ff Venture Capital, Hudson Structured Capital Management, Nephila, Hemi Ventures, and other investors.

Tensorflight uses geospatial imagery, building records, and machine learning algorithms to help underwriters better assess risks and understand portfolio exposures.

The company is run by former Google and Microsoft engineers, and can automatically assess a range of property attributes, such as building footprints, construction type, roof pitch and geometry, number of stories, and more.

“We are excited about continuing our journey of automating commercial property insurance,” said Robert Kozikowski, who co-founded the company along with Zbigniew Wojna.

“We will use the additional funding to expand the team with a head of sales in New York or New Jersey and engineering in Warsaw or New York.”

Adam Plotkin, Partner at ff Venture Capital, stated, “Tensorflight is a perfect illustration of our strategy to invest in companies that apply cutting-edge AI and machine learning models to solve specific, valuable problems in industry verticals.”

“They have designed and produced a solution that will significantly improve the speed and accuracy of property assessment for real-time pricing and underwriting for commercial property insurance.”

“Robert and Zbigniew have assembled a team of world-class computer vision experts, who are uniquely positioned to tackle these challenges for commercial property insurers,” said Vikas Singhal, Partner and CIO of Hudson Structured’s InsurTech investment strategy. “We’re incredibly excited to see their business grow for years to come.”

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous article:
Positive momentum suggests a shift towards more desired risk-adjusted pricing: S&P

S&P Global Ratings maintains that it would not characterise the reinsurance market as a hard one, but more of a...

Close