Indemn, the first AI-powered conversational insurance platform, secures $1.9 million in funding to transform how people learn about and buy coverage with AI agents

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Jan 31, 2024, 07:45 ET

NEW YORK, Jan. 31, 2024 /PRNewswire/ -- Indemn, a pioneering insurtech platform, announced it has closed a $1.9 million pre-seed funding round, marking its continued growth in delivering insurance products through natural conversation powered by AI. The round was led by Markd, with participation from Afterwork Ventures, Everywhere Ventures, and a group of prominent entrepreneurs and insurance leaders from Australia and the U.S.

Established in 2021, Indemn's AI-driven platform revolutionizes engagement with digital insurance products by making information, product configuration, and underwriting accessible through natural conversation.

Indemn's collaboration with innovative insurance carriers has resulted in a transformative customer experience. Their platform, built around Large Language Models, includes AI agents supporting all aspects of digital insurance, from quoting to purchase, thereby driving growth and reducing operational costs across distribution channels. The customer experience delivers AI agents directly to the user, and when desired, seamlessly connects the customer to human agents supported by an AI powered Copilot.

Kyle Geoghan, Co-founder & CEO of Indemn, shared his excitement: "We're thrilled with the initial funding and support from investors who believe in our vision to transform the insurance acquisition experience with Large Language Models. Creating a better way for people to interact with insurance has been a long time coming and we couldn't be more excited to continue building the solution."

Parker Beauchamp, Managing Partner at Markd highlighted Indemn's potential: "The Indemn team, with its innovative product and early adoption of generative AI, is poised to improve the way insurance is purchased online. Far before the hype, the team's expansive work with this tech was driven by a need to find a solution for the primary challenges within insurance distribution. This work is bolstered by Kyle's deep understanding of insurance, accumulated from his background in a family agency and as an early employee at Coverwallet. All this aligns perfectly with our belief in supporting long-standing, existing insurance channels."

About Indemn

Indemn, Inc., is an insurtech SaaS provider delivering innovative, AI-driven solutions to insurance carriers. The Indemn platform enables multi-channel digital distribution with Large Language Models at its core. Together with forward-looking insurers they're pioneering a new model for insurance engagement.

About Markd

Markd is a venture capital company focused on funding and partnering with transformative insurtechs. It pays homage to the insurance industry's legacy while helping design its future. Markd's mission is to power substantial work and continually inspire more ideas to prevent hurt and loss.

For more information and to experience the future of insurance, visit www.indemn.ai

SOURCE Indemn