Barcelona-based inari raises $5.2m to transform insurance infrastructure market

The funding will be used to support enhancements to inari’s product offering, enable the company to add to its team’s insurance industry and technology expertise, and expand globally.

Founded in 2017, inari helps its clients operate as next-generation insurance and reinsurance organisations. The company’s client base includes MGAs, insurance carriers, Lloyd’s syndicates, and reinsurance companies in Europe, the Lloyd’s and London markets, the US, Asia, and Bermuda.

Inari provides core insurance policy administration, underwriting dashboard, and bordereaux management systems for its clients. The company’s platforms are secure, cloud-based, natively API-enabled, and fully managed services. They aim to provide a modern, easy-to-use tool that manages the end-to-end policy lifecycle while handling the “heavy lifting” of day-to-day (re)insurance process management.

The platforms also provide frictionless interconnectivity and integration with other systems and data sources, which enriches the risk lifecycle experience. Using proprietary technology for data ingestion and capture, inari provides users with agile, digital-first underwriting and risk management that has the potential to increase operational efficiency, enhance data accuracy, improve data distribution through the value chain, and lower costs.

“The announcement validates inari’s vision, value, and year-on-year track record as part of our mission to revolutionise the (re)insurance industry,” said Frank Perkins, chief executive officer at inari. “The funding will support enhancements to our product offering, enable us to add to our team’s insurance industry and technology expertise, and expand globally.”

Xavier Álvarez, director of tech funds at Caixa Capital Risc, said: “inari’s innovative approach to insurance infrastructure has the power to redefine how we perceive risk and resilience in the insurance sector. Our investment signifies our belief in their vision and our commitment to fostering innovation in industries ripe for change. We’re excited to join this journey with inari to help them grow and revolutionise this critical industry segment.”