Envelop Risk secures $6m investment from Alpha Intelligence Capital

Envelop Risk, the underwriting and risk analytics platform headquartered in the UK but with an office in Bermuda, has launched a series A investment of $6 million, led by AI-specialist investor  Alpha Intelligence Capital (AIC).

AIC will invest as lead with additional support from existing investors including MS Amlin and Dymon Asia Ventures. The financing will ne used to enhance Envelop Risk's investment in proprietary machine-learning and data-driven underwriting activity in London and Bermuda, fueling growth into new markets.

Envelop Risk offers bespoke underwriting solutions focused on the global cyber reinsurance market.

Jonathan Spry, chief executive at Envelop Risk, said: “Having the benefit of Antoine Blondeau [AIC’s co-founder and managing partner] as an advisor and the support of the whole AIC team will greatly help Envelop Risk through its next stage of growth.”

Cyber re/insurance will benefit from increased demand due to COVID-19, he predicted.

Spry said Elvelop has “helped reimagine and reshape how cyber-risk is priced in a traditionally opaque and complex market. Now, we would like to move onto our next chapter and partner with underwriters globally to reach more companies at risk of cyber breaches, cyber-attacks and other emerging areas of supply-chain complexity.”

Blondeau added: “We at AIC have been impressed with the Envelop team’s ability to combine advanced algorithmic science with deep cybersecurity domain expertise. The resulting engine is foundational not just to cyber risk insurance but also to the broader specialty and emerging risk insurance ecosystem.”