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Former UK Treasury Economic Secretary Bim Afolami and PrimaryBid co-founder Anand Sambasivan have co-founded the AI insurance brokerage startup i23. According to Tech.eu, i23 has raised a £4.9 million seed round led jointly by Four Cities Capital and Outward VC, with participation from Seedcamp and Insiders Ventures. i23 is developing an AI operating model to take on the day-to-day administrative work of insurance brokers, targeting the highly fragmented UK insurance brokerage market, which is worth up to £22 billion a year. There is currently no information on further developments.
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Former UK government minister Afolami raises £4.9 million for AI insurance brokerage startup i23Developments
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Oct 29
Tech.eu
Former UK government minister Afolami raises £4.9 million for AI insurance brokerage startup i23
Former UK Economic Secretary to the Treasury Bim Afolami and PrimaryBid co-founder Anand Sambasivan have co-founded AI insurance brokerage startup i23, which has secured a £4.9 million seed funding round co-led by Four Cities Capital and Outward VC, with participation from Seedcamp and Insiders Ventures. i23 is developing an AI operating model to take on the day-to-day administrative work of insurance brokers, targeting the highly fragmented UK insurance brokerage market worth up to £22 billion annually.