(Image source: Confianza homepage.)
Confianza, Inc. (Sarasota, Fla.), a provider of data analytics and machine learning solutions to insurance agents, brokers, and carriers, has announced the first close of its seed funding round, led by Sandbox Insurtech Ventures (Chicago). The companies declined to disclose the funding amount.
Jeffrey Glazer, CEO, Confianza.
Founded in 2020 by seasoned insurance industry veterans Jeffrey Glazer and John Petricelli, Confianza aims to empower insurance intermediaries and carriers to make confident, data-driven business decisions. The company reports that it has built a leading third-party dataset from proprietary, licensed, and public sources incorporating over 270 million individuals, 170 million households, and 60 million large and small businesses, spanning more than 2,700 attributes.
Confianza’s claims a unique advantage in the intelligence underlying the matching and linking of its “comprehensive” dataset. The result, the company says, is that curated data that can be intuitively related to an insured’s level of exposure and risk, financial health and wellbeing, household/business composition, interests, and hobbies, providing a variety of data and analytics services that can be used at any point in the insurance value chain.
“The insurance data market is experiencing significant growth amid sustained, high demand for data,” comments Jeffrey Glazer, co-founder, and CEO, Confianza. “Confianza is well-positioned to provide our insurance industry clients with a sophisticated suite of analytical products and services. We are thrilled to announce the close of today’s round and look forward to working closely with our partners to harness their strategic insights, resources, and extensive insurance industry expertise,” commented
Building Out Team, Core Product and Service Offerings
Michelle Gouveia, VP, Sandbox Insurtech Ventures.
Confianza provides a variety of solutions that it describes as relevant to both pre-bind (Customer Profile, Pre-fill, Lead Generation, and advanced analytics including indicators of consumer/business financial strength, and financial momentum, in addition to a state-of-the-art replacement cost model, leveraging unique and insightful information sources) and post-bind (Fraud Screening, Premium Leakage, Book Reviews) activities. The company says it will utilize the funding round to significantly build out its team, core product and service offerings, while further serving its fast-expanding customer base.
“We are pleased to support Jeffrey, JP, and the entire Confianza team at the early stages of the Company’s development,” says Michelle Gouveia, VP, Sandbox Insurtech Ventures. The insurance data sector presents strong, attractive market opportunities and Confianza’s innovative data analytics platform and solutions will be crucial to the industry’s development. We look forward to supporting Confianza on its growth journey.”