Confianza, a provider of comprehensive data analytics and machine learning to insurance agents, brokers, and carriers throughout the US, has closed a seed funding round.
The round was led by Sandbox InsurTech Ventures.
Founded in 2020 by insurance industry veterans Jeffrey Glazer and John Petricelli, Confianza aims to empower insurance intermediaries and carriers to make confident, data driven business decisions. The company has built a third-party dataset from proprietary, licensed, and public sources incorporating over 270 million individuals, 170 million households, and 60 million large and small businesses, spanning more than 2,700 attributes.
According to Confianza, the intelligence underlying this data set, is what gives it a “unique advantage.” This, the company explained, means its curated data can be intuitively related to an insured’s level of exposure and risk, financial health and wellbeing, household/business composition, interests, and hobbies, providing a variety of data and analytics services that can be used at any point in the insurance value chain.
Confianza said it will use the fresh funding to build out its team, core product and service offerings, whilst also further serving its fast-expanding customer base.
Jeffrey Glazer, co-founder, and CEO of Confianza, said, “The insurance data market is experiencing significant growth amid sustained, high demand for data. Confianza is well-positioned to provide our insurance industry clients with a sophisticated suite of analytical products and services.”
Another company in the InsurTech industry, BirdsEyeView, recently closed its seed round.
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