US-based InsurTech company b atomic has reportedly collected $1m in its seed funding round.
The investment was backed by private equity firm Oak Tree Equity and independent insurance agents, according to a report from Coverager.
b atomic has two core products, neon agent and neon carrier. neon agent is designed to help agencies make data-driven decisions and ensure marketers, agents and account managers know what they should do next.
According to its website, clients can increase retention by 7.7%, reduce service time by 20% and increase revenue by 52% per employee.
Its neon carrier service claims to be the industry’s first data marketplace.
The company launched its private beta in 2020 with 13 agencies. A further 17 agencies joined in 2021, it said.
To date, the InsurTech company has raised a total of $4.2m in funding.
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