HSCM co-leads $15m investment in start-up eyeing $1tr opportunity in life market

HSCM Ventures, the venture capital arm of re/insurer Hudson Structured Capital Management, has led a $15 million Series A financing in insurtech start-up Inclined Technologies.

The funding, led with participation from Anthemis Group as well as several new and existing investors, will be used for investments into marketing and business development, and evaluating tangential opportunities for expansion.

Inclined has experienced an increased demand for its technology designed to “eliminate points of friction” currently seen in the market, such as the “front end” problem of obtaining and structuring the raw data from whole life carriers, and the “back end” problem of efficiently managing the collateral in a way that can deliver assets at scale to financial institution partners.

Inclined’s initial focus is to work with whole life advisors to offer policyholders an automated, secured, revolving line of credit collateralised by the cash value in their whole life policy. The Inclined Line of Credit (iLOC) can be drawn or paid back iteratively at the convenience of the borrower. Through its proprietary technology platform, Inclined manages customer acquisition and enables a network of banks to originate the lines as a turnkey line of business.

“Inclined is a mission-driven company that provides solutions to help policyholders access their savings in a more efficient and cost-effective way,” said Inclined’s CEO and co-founder Joshua Wyss. “We are excited to partner with HSCM Ventures and the rest of our investors to tackle the $1 trillion opportunity in whole life cash value access. With this capital, we will continue to improve the way people access the equity they have built in their whole life policy, while serving as a trusted technology partner to whole life carriers and financial institutions across the US. This is a market that has yet to benefit from modern technology.”

Vikas Singhal, partner at HSCM Ventures, will be joining Inclined’s board of directors.

“We strongly believe in the Inclined mission and are excited to partner with the team,” said Singhal. “Inclined is engaging carriers, policyholders and lenders in a very aligned and coordinated manner and we see policy loan refinancing as just the beginning of what can be unlocked through those integrated relationships.”

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