Hudson Structured and Nephila back $2m funding for AI insurtech start-up Tensorflight

Tensorflight, an artificial intelligence insurtech start-up that uses machine learning and geospatial imagery to help P&C insurers better assess risks and understand portfolio exposures, has closed a $2 million financing round led by insurance industry investors HSCM Bermuda and Nephila.

The company, run by former Google and Microsoft engineers, plans to use the investment to further scale its computer vision risk assessment service for commercial property insurers.

Its latest funding round was led by ff Venture Capital, Hudson Structured Capital Management, Nephila, Hemi Ventures, and other investors.

Tensorflight claims its technology can automatically assess a range of property attributes, such as building footprints, construction type, roof pitch and geometry, and number of stories, using satellite images in minutes, enabling underwriters to provide quotes based on the best possible information.

"We are excited about continuing our journey of automating commercial property insurance," said Robert Kozikowski, who co-founded the company along with Zbigniew Wojna. "We will use the additional funding to expand the team with a head of sales in New York or New Jersey and engineering in Warsaw or New York."

Adam Plotkin, Pprtner at ff Venture Capital, said: "Tensorflight is a perfect illustration of our strategy to invest in companies that apply cutting-edge AI and machine learning models to solve specific, valuable problems in industry verticals. They have designed and produced a solution that will significantly improve the speed and accuracy of property assessment for real-time pricing and underwriting for commercial property insurance."

Vikas Singhal, partner and CIO of Hudson Structured’s insurtech investment strategy, added: "Robert and Zbigniew have assembled a team of world-class computer vision experts, who are uniquely positioned to tackle these challenges for commercial property insurers. We’re incredibly excited to see their business grow for years to come."

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