Akad provides tailored business insurance solutions, including professional liability and cyber insurance, designed to protect companies from operational risks and financial losses. By leveraging a digital platform, Akad simplifies the insurance process, ensuring transparency and efficient claims management for businesses and their brokers.
Funding
$22.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses face various operational risks, including professional errors, cyber attacks, and unforeseen events, which can lead to significant financial losses and legal liabilities. Traditional insurance processes can be complex and lack transparency, making it difficult for businesses to secure adequate coverage and manage claims efficiently.
Solution
Akad provides tailored business insurance solutions designed to protect companies from operational risks and financial losses. The company's digital platform simplifies the insurance process, offering transparency and efficient claims management for businesses and their brokers. Akad specializes in professional liability (E&O) and cyber insurance, offering customized coverage for over 40 professions, including medical professionals, lawyers, and engineers. The platform also provides a range of other business insurance products, including general liability, directors and officers (D&O) liability, property, engineering, and transportation insurance. Akad combines technology and tradition to provide a modern insurance experience, supported by a team ready to assist with claims and other inquiries.
Target Audience
Akad's primary customers are businesses of all sizes and insurance brokers seeking comprehensive and tailored insurance solutions to mitigate operational risks and ensure financial protection.
Features
- Digital platform for streamlined insurance management and claims processing
- Customizable professional liability (E&O) insurance for over 40 professions
- Cyber insurance solutions to protect against digital risks and cyber attacks
- General liability coverage for protection against third-party damages and unforeseen events
- Directors and officers (D&O) liability insurance to protect leaders and managers
- Property insurance for equipment and machinery
- Engineering insurance for construction projects
- Transportation insurance for cargo and goods in transit
- Online quote and policy management tools for brokers
- Online claims submission and tracking