BirdsEyeView Raises Funding to Democratize Insurers' NatCat Modeling
BirdsEyeView, a European Space Agency-backed insurtech startup, has recently closed an investment round led by the European Space Agency, Big 5 Investors, InsurTech NY, and ACF Investors. The undisclosed seven-figure sum will be utilized to drive growth in the UK and US markets and further develop BirdsEyeView's RAPTORâ„¢ technology. This groundbreaking technology aims to democratize insurers' access to NatCat modeling, exposure management, and underwriting automation. The investment comes at a crucial time when annual losses attributed to climate change regularly exceed $100 billion, and traditional insurance approaches are proving ineffective.
BirdsEyeView's RAPTORâ„¢ technology automates manual underwriting processes and provides usable access to powerful NatCat analytics and models during the quotation stage.
This is essential for efficient risk selection, enabling a more precise and efficient risk management process. The company has experienced unprecedented growth since the launch of its product in 2022, establishing strategic partnerships with global insurers and brokers. These partnerships include Liberty Specialty, Arch, Convex, Ark, Everest Re, Fidelis, among many others.
The CEO and Founder of BirdsEyeView, James Rendell, states that the capital injection will drive growth in the London and US Property and Casualty markets. It will also accelerate the development of Exposure Management and natural catastrophe modeling capabilities, crucial for improving the speed and quality of risk selection and exposure management. Dr. Albert Dow, CTO of BirdsEyeView, emphasizes the careful thought put into developing RAPTORâ„¢, aiming to enhance and streamline underwriters' workflow and empower them to focus on applying their expertise in risk assessment.
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