Confianza, a provider of data analytics and machine learning to insurance agents, brokers and carriers throughout the US, has completed the first close of its seed funding round, led by Sandbox Insurtech Ventures.
The insurtech, based in Florida, launched in 2020 with the ambition to empower insurance intermediaries and carriers “to make confident, data-driven business decisions”.
It has amassed a third-party dataset from proprietary, licensed, and public sources to achieve this ambition, incorporating more than 270 million individuals, 170 million households, and 60 million large and small businesses, spanning more than 2,700 attributes.
Confianza matches and links this comprehensive dataset to produce curated data that can be “intuitively related” to an insured’s level of exposure and risk, financial health and wellbeing, household/business composition, interests, and hobbies, providing a variety of data and analytics services that can be used at any point in the insurance value chain.
Jeffrey Glazer, co-founder and chief executive officer at Confianza, commented: “The insurance data market is experiencing significant growth amid sustained, high demand for data. Confianza is well-positioned to provide our insurance industry clients with a sophisticated suite of analytical products and services.”
Confianza intends to use the seed funding raised from Sandbox Insurtech Ventures to significantly build out its team, core product and service offerings, while further serving its fast-expanding customer base.
Michelle Gouveia, vice president of Sandbox Insurtech Ventures, said: “The insurance data sector presents strong, attractive market opportunities and Confianza’s innovative data analytics platform and solutions will be crucial to the industry’s development. We look forward to supporting Confianza on its growth journey.”