Protosure is a cloud-based issuance platform that enables businesses to automate the underwriting, rating, and policy issuance processes using spreadsheet-based formulas and a drag-and-drop submission form builder. By providing a secure and user-friendly environment for product launch and management, Protosure addresses the inefficiencies in traditional insurance workflows, allowing users to create and distribute insurance products online in days.
Funding
$2.9M 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
Traditional insurance underwriting, rating, and policy issuance processes are often inefficient, requiring specialized coding skills and resulting in slow product launches and inflexible workflows. These legacy systems struggle to adapt to rapidly changing market conditions and diverse product offerings.
Solution
Protosure offers a cloud-based platform that empowers businesses to automate insurance product development and distribution. The platform provides a user-friendly environment where business users can define underwriting rules, rating logic, and policy documents using familiar spreadsheet formulas and a drag-and-drop form builder. This allows for rapid prototyping, testing, and deployment of new insurance products without requiring extensive coding or IT resources. The platform streamlines the entire policy lifecycle, from initial submission to final issuance, enabling businesses to launch and manage insurance products online in a fraction of the time compared to traditional methods.
Target Audience
The primary target audience includes insurance carriers, brokers, managing general agents (MGAs), and other insurance providers seeking to streamline product development, automate underwriting, and distribute insurance products online.
Features
- Drag-and-drop submission form builder with address checking, schedule builder, conditional logic, and Stripe payment integration
- Spreadsheet-based rating engine that executes existing rating spreadsheets in the cloud
- Rule-based underwriting engine that supports multiple warning types, including submission blocking and explanatory pop-ups
- Automated document creation using existing PDFs or custom templates from MS Word documents
- Infinitely configurable submission tracking and reporting system with custom calculated columns and exportable CSV/XLSX formats
- Version control for all insurance product changes, ensuring traceability and auditability
- Supersearch functionality for instant access to all customer data
- Secure cloud infrastructure hosted on Amazon Web Services (AWS) with data encryption and two-factor authentication