Mea Platform lands $50m minority equity backing from SEP

Enterprise technology investor Scottish Equity Partners (SEP) has acquired a $50 million minority stake in AI-driven insurtech mea Platform, which says its technology can reduce insurers’ operating costs by as much as 60%.

The SEP investment will enable mea to accelerate product development and spend money on marketing as the company continues its expansion, announced last October, across all re/insurance operations. 

mea claims that its AI products, such as mea Operations, rapidly improve combined ratios and strengthen margins. The company is in its fourth consecutive year of profitable growth.

Many insurance processes are still highly manual and resource intensive, said mea. Operating costs account for up to 14 points of combined ratio for carriers and nearly half of total expenses for brokers, representing approximately $2 trillion in annual industry costs. 

The insurtech offers proprietary, insurance-specific AI products to automate end-to-end operations for carriers, brokers and MGAs. Because the company’s products are pre-trained in the language and specificity of insurance requirements, customer deployments are fast and integration is non-invasive, mea said. 

mea’s agentic AI products orchestrate operations process automation that delivers significant GWP and margin gains with up to 60% reductions in operating costs.

“Our opportunity to improve client combined ratios and margin is built on years of developing and deploying insurance-specific AI at global scale,” said mea founder and CEO Martin Henley. “As the industry moves from AI experimentation to production, customers increasingly recognize the value of domain-specific technology that delivers results immediately.” 

The company has clients across 21 countries with more than $400 billion of gross written premium processed through the platform. Customers and partners include Axis, CNA, The Hartford, Markel, Scor, Ardonagh, Lloyd’s of London, Velonetic, and Verisk.

Henley said: “SEP brings deep experience in scaling enterprise technology businesses, and we are excited to partner with them as we grow mea with the same discipline and focus that has brought us to this point. We saw significant inbound interest from potential investors and chose SEP for their long-term perspective, collaborative style, and the strategic support they will provide as we enter our next phase of growth.”

Angus Conroy, managing partner of SEP, said: “mea has built a highly differentiated, production-grade platform with clear return on investment for global insurance groups. Strong customer adoption, growth and capital efficiency reflect both the quality of the technology and the team’s deep insurance expertise. In a dynamic market, mea stands out for what is live, proven, and scaled today.”

Other SEP investments have included travel search engine Skyscanner, which was sold for £1.4 billion, and enterprise API management platform Tyk. 

Last month, specialist drone insurance MGA Moonrock Insurance became mea’s latest client, adopting mea Operations, its suite of insurance-specific agentic AI products, across its business. 

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