Huddle Insurance has developed technology and algorithms to help reduce fraud. Supported by Hollard Insurance , 7 west and Alium Capital as investors / yaising $19m
Huddle has developed a fully automated claims and approval assessment process - which enables a “less hands on approach” to handling claims . Any savings above a “targeted loss ratio” gets rebated to customers.
Huddle has written “tens of thousands” of policies with an insured value of over $2b
CEO Jason Wilby said that revenue has been growing at 700% per year and the company is planned to turn a profit in a few years.
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