Riskbook Ltd, a London, UK-based independent provider of reinsurance technology, raised £2m in seed funding.
Backers included Episode 1 Ventures, MMC Ventures and Seedcamp,
The company intends to use the funds to further develop its Lloyd’s-recognised digital placement platform.
Co-founded by Jerad Leigh (formerly of TigerRisk and Aon), Ben Rose (formerly of Aon and Lloyd’s) and technical co-founder Jezen Thomas (CTO), Riskbook is an independent technology startup combining reinsurance and software expertise to create a better user experience for global reinsurance practitioners. Flexible across all non-life products and lines of business, the company enables the seamless flow of actuarial-grade data throughout the traditional value chain. Further enhancements to its existing broker to reinsurer interface are expected in addition to the launch of a service for cedents, which will automate the preparation and validation of submission exhibits in collaboration with their brokers.
The company secured initial funding in 2019 following beta testing of the product with the U35s reinsurance group and additional investment as part of the Norton Rose Fulbright Insurathon.