SAN MATEO, Calif., Oct. 8, 2024 /PRNewswire/ — Pinpoint Predictive, Inc, the leading risk assessment platform for P&C Insurers, is delighted to announce the successful close of its highly anticipated Series A funding round led by prominent Insurtech VC Markd, along with esteemed investors Jazz Venture Partners, Guidewire Ventures, Verstra Ventures, Navigate Ventures and Seraph Group bringing the total capital raised by Pinpoint to over $23 million.
Pinpoint’s technology, which leverages machine learning and new, unconventional behavioral insights to deliver unparalleled precision to underwriting and actuarial decision-making, is reshaping the P&C insurance landscape. Pinpoint’s clients have seen improvement in loss ratios by an impressive 3 to 10 points with access to the earliest predictions available in the market.
Funding has been instrumental in accelerating the growth and development of Pinpoint’s platform, expanding its customer base, and further penetrating into home, auto and commercial markets.
“We are thrilled by the overwhelming response and confidence shown by investors who share our vision of revolutionizing the insurance industry through innovative AI solutions,” stated Scott Ham, CEO of Pinpoint Predictive. “This milestone is a testament to the amazing team we have here at Pinpoint as well as a recognition that Pinpoint is providing a game-changing platform to empower our clients to improve profitability and better serve their stakeholders. With this new funding, we are not just forecasting trends; we are setting them.”
“We believe the future of insurance lies in embracing advanced AI solutions, and Pinpoint Predictive is a player in this transformative movement,” said Parker Beauchamp, Managing Partner of Markd. “We are proud to partner with Pinpoint to advance our mission helping the P&C insurance industry in their endeavor to balance profitable growth while serving their policyholders more equitably.”
Pinpoint is excited about the implications of the combined efforts of its notable investors and partners. Pinpoint is confident that this partnership and vision will be an impactful influence on growth and profitability while enabling P&C insurers to steward a more inclusive and equitable future for the industry.
For more information on partnership opportunities, contact info@pinpoint.ai.
Pinpoint Predictive, Inc.
Pinpoint Predictive provides P&C insurers the earliest and most accurate loss predictions and risk scores to fast-track profitable growth. Unlike traditional methods, Pinpoint’s platform leverages deep learning, proprietary behavioral economics data, and trillions of individual behavioral predictors to help insurers identify the risk costs associated with customers and prospects.
Insurtech 100 Awards 2022 | Insurtech Vanguard | AI Breakthrough Awards 2023 | Global Tech Awards 2023 – Category Winner for AI, AnalyticsTech and Insurtech | Insurance Awards 2023 – Category winner for Insurtech in World Finance Magazine | Most Innovative Company in the Insurtech Industry 2024