Saphron said to secure $1m seed round

Saphron, a Philippines-based InsurTech company has reportedly netted SGD 1.35m ($1m) in seed funding.

This equity round was deployed by FinTech-focused venture capital firm Sage and startup investor Talino Labs, according to a report from e27.

The InsurTech company helps to protect the various things in a consumer’s daily life so they do not have to ‘agonize’ over them, it said. Its platform was built to improve the access to insurance to everyone and offer a customer-centric approach to streamline insurance buying.

Its goal is to build a fully digital experience for customers, including easy cover searching, simple payment methods and quick claims processing, the article said. One of the future plans is to leverage AI and real-time data analytics in order to improve underwriting and customer services.

There has been a recent slew of investments in the InsurTech space over the past month. India-based auto insurer Acko reportedly raised $65m in a Series C, while German auto insurance platform Friday netted a €114m funding round.

Another notable round close as a $125m Series B closed by Wefox. The German InsurTech helps consumers to optimise their insurance and ensure they get the best life, health, travel and motor cover for them.

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