Brazilian Insurance-as-a-Service (IaaS) startup Split Risk raised $8.6M from HSR Soluções e Participações and Labarca Empreendimentos
Split Risk provides a white-label platform that enables companies to offer insurance products without profile analysis and with a simplified cancellation process.
“To attract an audience that has not yet embraced insurance, we offer flexible terms, such as subscription-based (prepaid) contracts with no profile analysis. Additionally, our policy issuance is monthly, and cancellations are straightforward. More than 65% of our customers are purchasing their first insurance policy with us,” said Split Risk’s CEO Pedro Pires.
Split Risk will use the funds to increase regulatory reserves and invest in technology.
Founded in 2020, Split Risk has collected over $7.6M in premiums.
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