Igloo has recently garnered $36 million aimed at bolstering its data infrastructure, reflecting the company's ambitions to tap into innovative insurance solutions.

The company specializing in blockchain-driven insurance technology has closed a Series C pre-financing round totaling $36 million, led by Eurazeo, with contributions from Openspace Ventures and La Maison. These funds are earmarked for future acquisitions and improving the company's data systems. Igloo Igloo plans to integrate advanced technologies like artificial intelligence and big data into its operational framework, thereby providing enhanced insurance services to meet customer needs. Notably, it has previously introduced Weather Index Insurance, a blockchain-based product designed to protect farmers from severe weather events, particularly in Vietnam and other Southeast Asian regions. data infrastructure .

Established in 2016, Igloo utilizes artificial intelligence In 2022, Igloo successfully raised $27 million as part of its comprehensive Series B financing, reaching a cumulative total of $46 million. Key investors included the InsuResilience Investment Fund II from the German Development Bank KfW, along with WAM, Finnfund, La Maison, and Cathay Innovation.

This InsurTech organization utilizes artificial intelligence and blockchain technology to achieve better outcomes.

In the competitive insurance sector, companies are constantly striving to deliver the best value and user experience to their customers.

This trend signifies a positive shift and growth opportunities within the insurance sector, fostering efficiency, cost reduction, bolstering transparency, expediting payouts, and minimizing fraudulent activities. Moreover, it enables the secure sharing of real-time data across various stakeholders.

Blockchain technology Recently, Arbol, based in New York, launched an innovative insurance platform harnessing the power of AI and blockchain specifically for reinsurance. This platform focuses on severe weather risks, providing parametric insurance solutions that compensate for weather-related incidents such as storms and floods.

Igloo's recent success highlights its strategic focus on fortifying its infrastructure, emphasizing the company's dedication to innovation and its transition toward advanced AI- and blockchain-based insurance solutions. storm catastrophes It's essential to understand that the content provided here should not be misconstrued as legal, tax, investment, or financial advice. Only invest what you can afford to lose, and it's wise to consult an independent financial adviser if you're unsure. For more detailed information, we recommend reviewing the issuer's terms and conditions along with their help and support resources. MetaversePost is committed to offering accurate and unbiased reporting; however, keep in mind that market conditions are subject to rapid changes without prior notice.

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