Improved health-focused InsurTech platform TrackActive has raised up to £300,000 in seed funding after collaboration partnership with Gen Re.
The investment round was led by HR Tech Partnership and a selection of angel investors through the Seedrs platform.
Capital from the round is expected to be used for growth and product development, particularly its AI-supported TrackActive Me platform.
Beside this, TrackActive is working in partnership with American general reinsurance firm Gen Re and its client base. The company recently launched a closed beta test with Insurance Australia Group.
UK-based TrackActive is a healthcare and exercise management platform which helps people take care of their bone, muscle, joint and spine conditions and improve their health through exercise programs. The application initially asks for details about the user’s health condition, and their current exercise habits, its AI will then create programs to improve and track their health progress.
The app was also designed to help insurers save costs and improve the cover of consumers.
TrackActive co-founder Ian Prangley said, “At TrackActive, our goal is simple: to bring new technologies to insurers and their customers to reduce the massive burden of claims from these debilitating conditions. By getting people back to work earlier, insurers will have happier, more engaged customers, as well as corporate clients that enjoy greatly increased productivity due to significantly reduced lost-work days.”
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