Arrow Risk Management, an insurtech startup that has developed a data-led underwriting platform, has raised £2m.
The Arrow Risk Management platform – called Quiver – provides insurance brokers and carriers with real-time data, intending to streamline the process of underwriting and claim evaluation.
The cloud-based platform feeds users with comprehensive risk management data.
The insurtech startup is regulated in both the UK and the EU and has secured Lloyd’s coverholder status, meaning it has been granted authority by the insurance body to underwrite policies on behalf of Lloyd’s syndicates.
Arrow Risk Management CEO Jon Godfray said the funding will be used for expansion and to further develop the company’s underwriting platform.
The London-based startup was founded in 2021. The investment round was led by ACF Investors.
“Traditionally, underwriting has presented a huge challenge for both insurance companies and customers, due to a lack of efficiency in the process,” said Sam Fennell, a partner at ACF Investors.
“Arrow Risk Management is addressing this critical gap in the insurance market. Its technology-driven approach has the potential to significantly improve both the underwriting process and the related transaction processing, we are excited to support their journey.”
ACF Investors launched as a rebrand of Angel CoFund in 2021.
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