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Verikai
Predictive risk underwriting tool
- 21-100 employees
- B2B
- Insurance
- Big data
- Machine Learning
- SaaS
- Pacific Heights, San Francisco, CA
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Company mission
To use data and machine learning to more accurately assess individual and group risk for the insurance industry.
88% employee growth in 12 months
Our take
Assessing risk within the insurance industry is essential to provide quotes for plans, but the mass of relevant data points has become unmanageable. As a result, underwriters and brokers often miss essential data throughout the risk assessment process, resulting in individuals being overcharged for unnecessary features within insurance plans.
Verikai applies AI-driven predictive analysis to the risk assessment process within insurance industries, providing brokers and underwriters with software that automatically assesses data points. Its software uses over 5,000 behavioural attributes from more than 250 million individuals in order to provide accurate risk assessment, improving workflow efficiency whilst reducing costs for individuals.
Risk assessment within the insurance industry often requires questionnaires to combat the challenges of limited data, so Verikai has made an intelligent move by providing the automated analysis of enormous datasets in order to prevent the need for this arduous data collection. The company aims to provide its services to underwriters and brokers of varying scales by providing different payment plans and software packages depending on the size.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- Generous time off with unlimited PTO
- Flat organizational structure with ego-free, open-door policy
- Comprehensive health, dental, vision, and 401(k) plans
- 100% remote company convenient to your needs
- Employer-paid meal delivery program via GrubHub
- Team offsites, happy hours, lunch n’ learns
- Collaborative, trusting, and flexible work environment
Company values
- Act with integrity in all that we do - We value integrity in everything that we do: truthful relationships with customers, prospects, partners, investors, and most of all, with each other.
- Display a team-first attitude - We succeed as a company and achieve our goals by relying on each other. Individual accolades are only achieved when the team wins.
- Dare to fail - To innovate and revolutionize the insurance industry requires taking risks. We encourage our employees to take planned risks and try new things; giving their best effort regardless of the outcome.
- Champion diversity and cultivate inclusion - We are a team made up of unique individuals from all different backgrounds. Our differences and the ideas that come with it, foster and drive a creative and innovative world-class organization.
Funding (1 round)
Jul 2020
$6m
SERIES A
Total funding: $6m
This company has top investors
Leadership
Brett Coffin
(CDO)Previously founded BC Capital Management.