Westhill, a digital solution provider for the property and casualty insurance space, has closed its Series A round on an undisclosed amount.
The funds were supplied by InsurTech investors Eos Venture Partners.
This equity injection will support the growing number of customers to the platform as well as expansion across the US.
Westhill aims to change the customer experience for claims, using a combination of human and technology to do so. Its services connect all important stakeholders to ensure full transparency, customer choice and engagement, while lowering frictions in claims.
By using the platform, carriers can enhance customer interaction, reduce expense and improve cycle times in the hope of boosting customer retentions. Policyholders can restore their properties with little hassle and improve their communications with insurers.
Eos founding partner Jonathan Kalman said, “We are very excited about working with the Westhill team to drive value for all stakeholders in the claims process, creating a win-win situation for all.
“We see a significant opportunity in the claims space for new innovative solutions that really drive value for the consumer and carrier, and Westhill has built a platform with best-in-class technology to deliver that value for the industry.”
As part of the deal, Kalman is joining Westhill’s board of directors.
Eos is an InsurTech -focused venture capital firm which was launched in 2016. Last year, the firm sought to raise its maiden investment vehicle with a goal of $100m.
A first close was held at $30m last year, but it is unclear whether the firm has closed the fund on its goal.
The firm has made a number of InsurTech investments since the launch of the fund, including deals with marine insurance analytics startup Concirrus and SME-focused lead generation and underwriting platform Digital Fineprint.
Copyright © 2019 FinTech Global
