GREENWICH, Conn., Feb. 17, 2022 /PRNewswire/ – Insurtech trailblazer ennabl has secured a $4M seed round investment. Led by Vine Ventures with additional private participants, this investment will be used to expand the company’s platform and expand its team of engineers, data experts, and insurance technology professionals.
By focusing on brokers’ challenges and pain points, ennabl offers a fresh perspective on the insurance industry. With their platform, ennabl provides insurance producers with the technology and tools required to gather customer and industry data and streamline the client acquisition and servicing processes. The ennabl platform will help insurance professionals understand their customers’ needs and provide superior solutions. By eliminating re-keying, information silos and data entry errors, producers can focus on servicing clients and building their businesses.
Connecting information across data silos to accelerate insurance brokers and agents into the digital age.
The foundation for the ennabl platform is ennablDATA, Data-as-a-Service (DaaS) offering for insurance brokers, built to automatically extract structure and connect brokers’ data from various disconnected systems. Using algorithms and AI to structure brokers’ data across systems, ennablDATA automatically standardizes and dedupes client and policy information. The platform also enriches brokers’ data with industry, COPE, behavioral, and demographic data. ennabl’s offering also includes ennablDECISIONS, an analytical search engine giving brokers and agents access to advanced insights and providing a unified view of their business.
The ennabl platform allows brokers to focus on what they do best: Advising clients.
With the announced seed round, ennabl is pursuing its ambitious goal to transform the insurance brokerage industry.
“The insurance brokerage industry is on the cusp of a radical change, and ennabl is positioned at the forefront,” said ennabl founder Kabir Syed. “ennabl provides brokers with the tools to be more effective and efficient. More importantly, they no longer need to make huge investments in technology and data to transform the way they work.”
ennabl is a platform that unifies data to enhance the ability of insurance brokers to source, advise and manage clients. Former Marsh managing director and founder of RiskMatch, Kabir Syed, put his 20-year insurance industry experience to work to fix significant issues plaguing the industry. Syed assembled a world-class team of engineers, data experts, interface designers, and industry veterans to build a platform that will transform how insurance brokers do business.
Vine Ventures was founded in June 2020 by Eric Reiner and Dan Povitsky and has since raised $100M across its seed fund, Vine I, and several SPVs. Vine led and participated in funding rounds for 17 companies in the last year and a half. Eric and Dan bring their growth equity experience from Insight Partners and TA to seed and Series A rounds. In their late 20s, they represent a new generation of venture capitalists who share the same values, mindset, and worldview as their founders.