Sproutr closes Altai Ventures-led seed round

By Chris Munro

May 15 - (The Insurer) - Sproutr has closed its Altai Ventures-led seed round which the insurtech platform will use to make further progress on its technology roadmap and to grow its team.

The Solebury, Pennsylvania-based business helps MGAs/MGUs, program administrators and carriers navigate regulatory processes and internal structures.

It delivers end-to-end advisory, authoring and execution support across the various stages of product development including market validation, underwriting guidelines, form and rate development, regulatory filings, carrier paper strategy and post launch audits.

Sproutr, which is led by former AIG, Hippo, Hanover and Attune executive JoAnne Artesani, currently supports more than 35 customers and has helped launch over 60 products and programs in two and a half years.

Its client list includes Accelerant, Blitz Insurance, Boost, District Cover, Everspan, MGT Insurance Company and Sertis, among others.

According to Sproutr, its mission “is to redefine the standards in insurance program and product design by simplifying the process of bringing regulated products to market”.

The company says it achieves this via its tech-forward approach, proprietary frameworks and processes along with its industry knowledge to help new and established MGAs/MGUs, program administrators and others capitalize on market opportunities and avoid missteps.