Onesurance secures seed funding to boost AI advancements in insurance

Onesurance, a prominent player in artificial intelligence solutions tailored for the insurance sector, has successfully secured seed funding. The investment round was led by Curiosity VC, a firm known for its focus on AI investments, though the exact financial details remain confidential.

Founded by Jack Vos, a seasoned professional in the insurance industry, alongside Dennie van den Biggelaar, an adept data scientist and AI engineer, Onesurance has developed an AI-powered platform aimed at enhancing the operational efficiency and decision-making processes for insurers, brokers, and intermediaries. By leveraging predictive analytics, the platform offers significant insights into risk assessment, customer turnover, and contract management. It is designed to help insurers identify high-risk clients, improve cross-selling strategies, and monitor profitability on a per-client basis. The platform is notable for its modular design, which allows seamless integration with existing systems in the industry, and includes features such as AI-driven policy acceptance and profitability tracking.

The latest investment follows an earlier round of funding secured last winter from local angel investors, intended to further develop the platform. The current seed funding is set to accelerate Onesurance’s market expansion both in The Netherlands and internationally. This aligns with the company’s ethos of rapid technological development, encapsulated in its slogan, “The Future is Faster Than You Think.”

Reflecting on the investment, CEO Jack Vos stated, “We believe AI is essential for the future relevance of the industry, enabling operational efficiencies through predictive and actionable intelligence that traditional software solutions in the industry are unable to provide. However, AI solutions must also be profitable in the short term, and this is our commitment to our clients.”

The investment round not only saw the participation of Curiosity VC but also included contributions from Smarter Ventures, a SaaS-oriented investor, and a strategic angel investor with deep roots in the insurance industry. Onesurance’s cutting-edge platform is already in use by a number of leading insurers and brokers across the Netherlands and Belgium, and there is a growing interest from wider European and US markets.

Maurice Beckand Verwee, a Partner at Curiosity VC, expressed enthusiasm for Onesurance’s approach, stating, “Onesurance shows that the future of AI is not just about technological progress, but also about building relevant, industry-specific applications that truly create value. Their innovative approach, training proprietary machine learning models to provide prescriptive analytics to insurance intermediaries and brokers, will significantly impact how insurance professionals work globally and increase efficiency and profitability in the industry.”

The strategic investment efforts reflect an optimistic outlook for the potential role of AI within the insurance sector, suggesting a more integrated future where technological advancements meaningfully transform industry operations.

Source: Noah Wire Services