Snapsheet Secures Strategic Investment from State Farm Ventures®, Fueling Digital Innovation in Claims

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Jul 18, 2023, 08:01 ET

Investment Strengthens the Multi-Year Relationship Between Leaders in the P&C Industry

CHICAGO, July 18, 2023 /PRNewswire/ -- Snapsheet, an industry leader specializing in claims management technology, today announced a strategic investment from State Farm Ventures.

Through its innovative platform, Snapsheet streamlines and expedites the claims process, providing insurers and policyholders with a seamless, user-friendly experience. Snapsheet offers a comprehensive range of appraisal, claims, and payment solutions for auto, property, and commercial insurance. They work with over 140 insurance carriers, Managing General Agents (MGAs), Third-Party Administrators (TPAs), and self-insured entities in the United States, Canada, and Europe.

"This investment solidifies Snapsheet's position as an industry leader and highlights State Farm's commitment to fostering digital innovation within the insurance claims landscape," said Snapsheet CEO & Founder, Brad Weisberg. "We're eager to bring innovation to the insurance claims process and are deeply committed to making claims simpler for both carriers and their policyholders. Our focus is on improving customer experiences by providing insurance carriers with technology to drive automation, reduce costs, and improve accuracy."

"State Farm Ventures has been tracking Snapsheet for a while and is pleased to invest in them as a differentiated claims technology company," said Michael Remmes, VP of State Farm Ventures. "Snapsheet has been a trusted relationship for a number of years, and this investment demonstrates State Farm's commitment to customer-centric solutions that help drive innovation and streamline the claims process."

About Snapsheet
Snapsheet ignited the virtual appraisals revolution and is a leader in claims management technology, empowering claims organizations to offer seamless customer experiences. Built on a foundation of claims innovation, Snapsheet boasts a swift digital insurance claims process primarily for auto, property, and commercial lines in the United States.

As a trusted partner, Snapsheet collaborates with over 140 customers, encompassing some of the largest insurance carriers, TPAs, MGAs, and insurtechs. Snapsheet streamlines claims and appraisals, and scales payments through modern insurance technology.

About State Farm Ventures, LLC

State Farm Ventures focuses on investing in startups developing technologies and products to fulfill customer needs in ways they may not expect from their insurance company. State Farm Ventures, LLC, is a wholly-owned subsidiary of State Farm Mutual Automobile Insurance Company.

SOURCE Snapsheet