Dover-based Loro Insurtech, a leading provider of no-code insurance technology solutions, has successfully raised $750,000 in a seed funding round led by renowned insurtech investor Markd. This substantial investment will power Loro's ongoing growth trajectory, enabling the company to enhance its solution further. With the additional funds, Loro aims to expand its team, accelerate product innovation, and facilitate adoption among insurers seeking a streamlined and cost-effective insurance solution.
Loro Insurtech has been making waves in the insurance industry, revolutionizing insurance practices by offering businesses its innovative no-code technology. Through Loro's platform, insurers and MGAs (Managing General Agents) can swiftly create, customize, and deploy insurance products without the need for upfront investments or extensive coding expertise. One notable advantage of Loro's solution is its unparalleled accessibility and affordability. The platform offers free usage for the first $100,000 in Gross Written Premium (GWP) annually, eliminating financial barriers and enabling a wide range of insurers to benefit from its capabilities.
Peter Tilbrook, CEO of Loro, expressed enthusiasm about the partnership with Markd and other prominent industry figures, stating, "Their support affirms our vision of transforming the implementation and utilization of insurance software. With Loro, insurers can seamlessly create and manage tailored insurance products, supercharge distribution efforts, and gain a significant competitive edge."
Loro's commitment to simplifying insurance processes and removing entry barriers has garnered substantial traction in the market. This recent funding round positions the company to expand its market presence and extend its user base across multiple continents.
Armed with $750,000 in funding, Loro is poised to advance its no-code insurance technology solution, empowering insurers to swiftly develop and deploy customized products while enjoying unmatched accessibility and affordability. With an expanding team and accelerated product development, Loro is set to solidify its market presence and broaden its user base across global insurance landscapes.