Confianza Secures Seed Funding from Sandbox Insurtech Ventures
Confianza, Inc. ("Confianza" or the "Company"), an innovative provider of comprehensive data analytics and machine learning to insurance agents, brokers, and carriers throughout the country, today announced the first close of its seed funding round, led by Sandbox Insurtech Ventures.
Founded in 2020 by seasoned insurance industry veterans Jeffrey Glazer and John Petricelli, Confianza empowers insurance intermediaries and carriers to make confident, data driven business decisions. The Company has built a leading third-party dataset from proprietary, licensed, and public sources incorporating over 270 million individuals, 170 million households, and 60 million large and small businesses, spanning more than 2,700 attributes. Confianza's unique advantage is the intelligence underlying the matching and linking of this comprehensive dataset. The result is curated data that can be intuitively related to an insured's level of exposure and risk, financial health and wellbeing, household/business composition, interests, and hobbies, providing a variety of data and analytics services that can be used at any point in the insurance value chain.
"The insurance data market is experiencing significant growth amid sustained, high demand for data. Confianza is well-positioned to provide our insurance industry clients with a sophisticated suite of analytical products and services. We are thrilled to announce the close of today's round and look forward to working closely with our partners to harness their strategic insights, resources, and extensive insurance industry expertise," commented Jeffrey Glazer, co-founder, and CEO of Confianza.
Confianza provdes a variety of solutions that are relevant to both pre-bind (Customer Profile, Pre-fill, Lead Generation, and advanced analytics including indicators of consumer/business financial strength, and financial momentum, in addition to a state-of-the-art replacement cost model, leveraging unique and insightful information sources) and post-bind (Fraud Screening, Premium Leakage, Book Reviews) activities. The Company will utilize the funding round to significantly build out its team, core product and service offerings, while further serving its fast-expanding customer base.
"We are pleased to support Jeffrey, JP, and the entire Confianza team at the early stages of the Company's development. The insurance data sector presents strong, attractive market opportunities and Confianza's innovative data analytics platform and solutions will be crucial to the industry's development. We look forward to supporting Confianza on its growth journey," commented Michelle Gouveia, Vice President of Sandbox Insurtech Ventures.
Confianza serves the needs of insurance carriers and professionals throughout the country, with a consolidated information repository of more than 270 million individuals, 170 million households, and 60 million large and small businesses encompassing more than 2,700 attributes. The comprehensive data is supplemented with AI Machine Learning, Prescriptive Analytics, and Point of Sale Risk Profiles for targeted Risk Selection, lead scoring and application/quote prefill.
For more information about Confianza, visit www.confianzaus.com.
About Sandbox Insurtech Ventures
Sandbox Insurtech Ventures is an experienced venture investor that unites innovative insurance companies in a strategic fund model, invests in promising technology start-ups, and drives collaboration between incumbents and insurtechs. The fund team takes a global perspective on insurance innovation and, through investments in best-in-class insurtech start-ups, seeks to provide both attractive financial returns and strategic advantages for investors. Sandbox Insurtech Ventures is part of Sandbox Industries, an established venture capital firm that manages industry-specific funds.
Learn more at www.sandboxindustries.com.