DOVER, Del., June 1, 2023 — Loro Insurtech Inc., the provider of no-code insurance technology solutions, is delighted to announce the successful completion of its seed funding round, raising $750,000. The investment was led by prominent insurtech investor Markd, recognizing Loro’s potential as the premier platform for no-code insurance solutions.
Loro Insurtech has been disrupting the insurance industry by empowering businesses with its no-code technology. With Loro’s platform, insurers or MGAs can quickly create, customize, and deploy insurance products without any upfront investment. Additionally, Loro’s solution is completely free for the first $100,000 GWP every year, providing unmatched accessibility and affordability.
The investment from Markd and other key industry figures will fuel Loro’s continued growth and enable the company to enhance its solution further. The funds will be used to expand the team, accelerate product innovation, and drive adoption among insurers seeking a seamless and cost-effective solution.
Parker Beauchamp of Markd shared, “I love the Loro team: The founders are kind, hard-working, and generous with relevant experience and, most importantly, a great network. Don’t take my word for it; Ask their customers.”
Investor Christian Kanu, Chief Executive Officer at Generali Global Corporate & Commercial stated, “I decided to invest in Loro because its solutions are really innovative since they are easy to implement, scalable and with gradual pricing. This is exactly the opposite of what most of Loro’s competitors are offering in the market.”
“We are thrilled to partner with Markd as our lead investor along with key figures from the industry,” said Peter Tilbrook, CEO of Loro. “Their support validates our vision of revolutionizing the way insurance software is implemented and used. With Loro, insurers can create and manage tailored insurance products, supercharge their distribution, and gain significant competitive advantage.”
Loro’s dedication to simplifying insurance processes and eliminating barriers to entry has gained significant traction in the market. This latest funding round positions the company to expand its market presence and build on its user base across four continents.
About Loro Insurtech Inc.
Loro is a no-code, multilingual, immediate solution designed to digitalize insurance, built for any insurance product, anywhere in the world. Users maintain full underwriting control and have unlimited distribution opportunities. Loro is the only free insurtech solution with no minimum commitment.
About Markd
Markd is a venture capital company focused on funding and partnering with transformative insurtechs. It pays homage to the insurance industry’s legacy while helping design its future. Markd’s mission is to power substantial work and continually inspire more ideas to prevent hurt and loss.
SOURCE Loro Insurtech Inc.
