Authentic Closes on $5.5m Seed Round

Authentic, a turnkey insurance platform that allows vertical SaaS companies, franchises, and other groups to reap the benefits of captive insurance, announced the close of a $5.5M Seed round. The round was led by Slow Ventures with participation from Altai Ventures, MGV, Upper90, Clocktower, Commerce Ventures, Mischief Ventures, Core Innovation Capital, and prominent insurance executives.

Authentic’s “Captive in a Box” platform now makes it possible for any Vertical SaaS company, franchise, association, etc., to launch captive insurance programs for their members in a matter of weeks. Authentic’s turnkey platform handles all of the logistics of setting up a captive insurance company, including:

  • Legal: Setting up a Domicile, Administration, etc.
  • Underwriting: Filing Rates with Regulators, Pricing, Actuarial Analysis, etc.
  • Reinsurance & Capital: Reinsuring, Capitalizing Captives, etc.
  • Claims Management, Customer Servicing, and more.

“Over the last few years, we’ve seen a lot of software startups becoming FinTech companies by embedding payments and lending products to monetize their customer base,” explained Marc Schroder, founder of MGV. “Insurance is the next embedded product, but what makes Authentic a win-win is that software companies, roll-ups, etc., can create a new revenue stream while its members get hyper-tailored insurance policies at a fair price,” said Schroder.

Authentic, based out of Manhattan, NY, and Dayton, OH, is comprised of professionals from leading technology and insurance companies, including Next Insurance, Amazon, Canary Consulting, and Aquiline Capital Partners. This mix of technical, entrepreneurial, and insurance experience helped Authentic create the first end-to-end platform that allows SMEs to create captive insurance programs and distribute insurance to its members.


About alastair walker 12514 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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