Planck Changing SME Underwriting

Insurance data analytics platform Planck raises $16 million ina Series B round. Planck’s database, which includes online images, text, videos, reviews and public records, allows it to give insurance providers real-time information that helps them determine premiums, process claims and give SMEs faster quotes. It covers more than 50 business segments, including restaurants, construction, retail and manufacturing, and can deliver analytics by simply entering a business’ name and address. For example, if a healthcare business is seeking to buy or renew an insurance policy, Planck can give underwriters information such as the type of equipment used, what kind of drugs it prescribes and the type of surgeries it performs.

Source: Tech Crunch