Huddle Startup Insurance Company Raises $19m

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.