HSCM Bermuda completes financing for insurtech firm
RiskGenius, a Kansas-based insurtech company, has announced it has completed a Series B financing led by Hudson Structured Capital Management, doing business as HSCM Bermuda.
According to the company the financing marks RiskGenius’ entry into a new phase of growth—the company has also expanded partnerships with three of the world’s largest insurance carriers, Everest Insurance, FM Global and Liberty Mutual, and has appointed Sean Mollet to the position of chief technology officer.
The financing round, which originated from a customer referral, also included participation from RiskGenius’ existing investors, as well as new investors, Hearst Ventures and FM Global.
“We are excited to partner with RiskGenius and help the company deliver on its value proposition of improving coverage accuracy and increasing underwriting efficiency for insurance clients,” said HSCM Bermuda vice president Andrew Sagon. “We believe the company is uniquely positioned to drive standardization of insurance policy language across the industry.”
“eIQ - the dedicated Everest Insurance innovation team, is among the most forward-thinking innovators in the industry,” said RiskGenius CEO Chris Cheatham. “We appreciate their referral to HSCM Bermuda, as well as their continued collaboration in testing and enhancing our software. FM Global also inquired about investment opportunities after testing our software. Just like our previous round with QBE Insurance, our growth and investment opportunities are being created by our insurance customers.”