Insuretech startup Counterpart raised $10 mn led by Valor Equity Partners


Insuretech startup Counterpart raised $10 mn in funding led by Valor Equity Partners where Susa Ventures and Felicis Ventures also participated. Counterpart would partner with Markel Specialty, a specialty insurance division of Markel Corporation, to offer its management liability insurance products.


The startup's services are used by some wholesale brokers in the United States to allow small to medium businesses get insurance coverage, as it digitizes much of the process, from application submission, coverage selection, binding, claims management, and loss prevention. Counterpart says this market has become less attractive to insurance carriers because of the increasing claims costs and severity, and their lack of digitization of the process.


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