Federato RiskOps Underwriting Platform for P&C and Specialty Insurance Recognized for Innovation in AI and Analytics
San Francisco, July 31, 2023 – Federato, the insurance industry’s first RiskOps underwriting platform, today announced that the company has been named to CB Insights’ second annual Insurtech 50 list, highlighting the 50 most promising private insurtech companies in the world.
“This year’s Insurtech 50 winners are accelerating important innovations across an industry that has a direct impact on human health and well-being,” said Niall Williams, Lead Analyst at CB Insights. “From infrastructure to AI and analytics, our cohort is shaping the future of insurance in significant ways.”
“Insurers can no longer afford to underutilize data,” said Will Ross, CEO and Co-Founder of Federato. “This industry recognition is a testament to the challenges we are solving for our insurance customers by bringing the power of AI and machine learning to underwriting and portfolio optimization. My sincere thanks to our clients who contributed to CB Insights’ in-depth research, and who are our strongest evangelists.”
The Insurtech 50 award comes on the heels of the company’s recent announcement that it raised $25M in Series B funding, led by Caffeinated Capital, with participation from Emergence Capital and Pear VC. Over the past year, Federato has tripled its customer base, doubled spend within existing customers, and entered new segments across both commercial and personal lines insurance.
Federato’s RiskOps provides a real-time platform for both individual risk underwriting and portfolio optimization. The platform’s underlying federated data graph enables a single pane of glass view of client information and allows for AI to proactively recommend next best actions to frontline underwriters.
Utilizing the CB Insights platform, the research team picked these 50 private market vendors from a pool of over 2,000 companies, including applicants and nominees. They were chosen based on CB Insights datasets — including R&D activity, proprietary Mosaic scores, business relationships, Yardstiq transcripts, investor profiles, news sentiment analysis, competitive landscape, and team strength — and criteria such as tech novelty and market potential.
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
Federato’s industry-first RiskOps platform for P&C and Specialty insurance aligns portfolio strategy with underwriting action. Designed by underwriters for underwriters, Federato surfaces real-time risk and portfolio insights, enabling teams to triage business based on key criteria like appetite, underwriting guidelines, and winnability. The platform is being used today by a broad cross-section of the insurance industry from multi-billion-dollar insurance carriers to tech-savvy, high growth MGAs. Learn more at www.federato.ai.