Advisr, an Australia-based independent broker platform, has completed a seed investment round led by Spacer co-founder and former insurance executive Roland Tam.
The round was also joined by other angel investors.
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Advisr intends to use proceeds to expand its local network and facilitate the international expansion of its ‘platform as a service’ (PaaS) product.
Insurtech’s platform is targeted at insurance brokers and product manufacturers. It provides a digital marketing platform to reach and connect with new business customers.
The fund raise come close on the heels of the company launching Advisr Jobs.
Advisr Jobs is a job board that offers brokers with network and job opportunities within the wider insurance community.
To its SME customers, Advisr provides one-stop reference site to access insurance broker profiles, relevant and expert insurance content, peer reviews and direct connection with their recommended broker.
Advisr helps customers find and connect with a broker that suits their needs.
Advisr founder and CEO Andy Jamieson said: “With elegant technology and a growing user base, Advisr is well-positioned to build the largest independent broker platform for the insurance industry.
“This technology is scalable as a PaaS globally not only for large insurance groups but broader financial services applications as well, which is a really exciting prospect.
Tam added: “Despite the growth of direct channel sales, $25bn worth of insurance is still sold via an insurance broker. As a small business owner myself, I need an expert who understands my business who I can trust intimately.
“Historically, that has been limited to my networks and connections. Advisr is the tool that can unlock what the SME needs, as well as introducing brokers to thousands of new customers they couldn’t previously access.”
