Layr offers a cloud platform based on artificial intelligence (AI) and machine learning for automated insurance pricing and underwriting. It allows small businesses to assess and select the right coverage in about twelve minutes. Insurance brokers and agents use the white-label solution to fully sell and service their commercial insurance products. By combining tools like digital storefront, customer service portals, and human agent support, more customers can be served while improving service quality.
“Layr makes it easier for small and medium-sized companies to access insurance solutions and at the same time enormously accelerates quoting and underwriting – all in all, this means greater efficiency through digitization,” emphasizes Ulrich Wallin, Managing Director of Hannover Digital Investments GmbH.
In addition to lead investor HSCM Ventures and HDInv as a minority investor, Maschmeyer Group Ventures, Sandbox Industries and Flyover Capital are also participating in the Series A financing round with a total amount of USD 10 million.
Layr will use the funding to double its team size and to grow its footprint amongst insurance agents and brokers in the United States.