Introducing our latest investment, Artificial Labs
Announcing Augmentum’s second investment in the insurtech space, Artifical Labs.
Artificial Labs is a technology provider for the Lloyd’s and London market. The London-based insurtech facilitates algorithmic placement of risk, backed by an augmented underwriting platform for insurers and a powerful contract builder for brokers.
Reginald de Wasseige, Principal at Augmentum Fintech said: “We are delighted to lead Artificial’s latest investment round. We firmly believe that the era of algorithmic underwriting will redefine market dynamics in the insurance space. As more sophisticated ‘smart follow’ underwriters enter the London Market, we will see a significant transformation in the process of underwriting risk. The most adept lead underwriters, equipped with substantial auto-follow capacity, are poised to become highly sought-after by brokers seeking to place business. We look forward to working with David, Johnny and the entire Artificial team for this next phase of their journey. Our investment is a testament to our confidence in their vision and execution capabilities.”
Johnny Bridges, Co-Founder and Co-CEO of Artificial said: “As soon as we began working with the team at Augmentum, we felt confident that they had a deep understanding of the insurtech space and Artificial’s potential for growth within it. Everyone we have encountered has been highly impressive, with the whole team’s enthusiasm and knowledge evident from initial meetings through to signing. We are thrilled to have them on board as our lead investors for the Series A+ and look forward to our continued work together.”
Learn more about why we invested in the Artificial team here.
Read the full RNS here.