Insurance start-up Sure raises $8m

New York-based insurance startup Sure has raised $8 million in a series A round of funding led by IA Capital, with contributions from Menlo Ventures, FF Venture Capital, Nationwide Ventures, Assurant, and AmTrust.

The start-up promises on-demand coverage for everything from apartments to pets, flight cancellations, and weddings. The company also said it uses an AI-powered “robo broker” to help users find the best insurance.

In addition, Sure said that it is launching what it describes as a “first-of-its-kind smartphone protection” product. The insurance can be purchased any time during a mobile phone’s lifetime, with Sure able to remotely test the health of a device before issuing a policy. The technology, which Sure said is “patent pending,” allows the company to carry out diagnostics in less than a minute directly through the Sure mobile app and test things like battery, memory, CPU, and more entirely autonomously.

Today’s stories

Carnegie-Brown takes charge as Lloyd’s chair, steps down from JLT board

AIG partners with IBM in blockchain venture

Zurich uses accelerator to influence strategies of insurtech start-ups

Hamilton announces senior role changes in Bermuda operations

Ed Broking German subsidiary Junge names new CEO

CNA combines affinity and MGAs to form a new unit

Shipping losses decline in 2016

JLT Capital Markets closes $54m cat bond deal

Orchid Underwriters expands commercial footprint in US

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.