Humn, a London, UK-based insurtech company, raised £10.1m in Series A funding.
The round was led by BXR Group and Shell Ventures as well as Hambro Perks Leaders Fund and Woodside Holdings.
The company intends to use the funds to further develop its insurance data capabilities and expand the commercial functions of the business, as well as expanding into Europe next year.
Founded in 2018 and led by CEO Mark Musson, Humn is an insurtech company producing real-time data-driven fleet insurance. The solution provides fleets with transparency by leveraging a risk platform, riskOS, which analyses thousands of in-vehicle and external data points, in real-time, to provide an entirely contextual assessment of driving risk and a clear basis for the pricing of Rideshur, their dynamic insurance product. Rideshur continuously adjusts the insurance premium cost based on the risk exposure at any given moment.
Over the past year, Humn has secured an insurance license from the Financial Conduct Authority and insurance capacity with delegated underwriting authority. It is now rolling out their flexible data-driven insurance, Rideshur, with select broker networks, distribution partners and fleets.
FinSMEs
13/10/2021