Capitola founders (Capitola)
Capitola, an Israeli insurtech startup that connects brokers and carriers and uses AI-based risk appetite matching to streamline the placement process, raised a total of $15.6 million in its Series A funding round led by Munich Re Ventures after raising an additional $5 million. The company said it will use these funds to grow Capitola’s platform with an emphasis on its market intelligence capabilities and to accelerate sales in the U.S.
Founded in 2021 by Naor Rosenberg (CTO), Amit Ben Nathan (CPO) and Sivan Iram (CEO), Capitola baosts that its platform optimizes distribution efficiency through placement process automation and AI-driven risk appetite matching so that broker teams can focus on what they do best: strengthen relationships, expand their client base, and close more deals.
Capitola boasts that with the company’s smart placement and market intelligence platform, firms can now transform how broker teams work. The company asserts that the platform saves time and increases productivity with simplified and streamlined workflows, provides smart market recommendations based on AI (artificial intelligence) driven risk appetite matching, easily organizes and manages hard-to-place risk and multi-layered programs with intuitive tools, and creates advanced client reports and proposals using customized templates.
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“The insurance industry has seen many technological advancements over the years, but very little attention has been given to the insurance professionals and the tools they use,” said Sivan Iram, Capitola’s co-founder and CEO. “Capitola’s mission is to help insurance professionals deliver exceptional client service and coverage. Our platform brings together brokers and underwriters, removing many of the operational inefficiencies around manual processes and repetitive tasks to allow them to focus on what they do best. We’re thrilled to have the support of Munich Re Ventures, Lightspeed, and our other investors as we continue to grow our team, develop innovative solutions and expand our impact on the insurance industry.”
