Inari

Cohort: Cohort 3, 2019 

Focus in insurance value chain/workflow: Point of Underwriting, Policy Admin System, Claims, Compliance & Regulatory Support 

Specific lines of business supported: Corporate, SME, Speciality  

Founded: 2017 

Status: Operating, still in insurance 

Company type: Administration System   

Head office: Spain 

Main global offices: Spain  

Locations served: Europe, United Kingdom, USA, Asia  

Employee count: 11-100 

Inari provides a cloud-based policy administration system for insurers, reinsurers, MGAs and Lloyd's syndicates. It offers three core products: a bordereaux management system, an insurer/MGA administration system, and a reinsurance administration system. To support the entire risk lifecycle, inari uses distributed ledger technology. Their products are modular and API-based so can be integrated with external sources as well as Inari’s own ecosystem of partners. 

Primary way aimed to improve insurance processes and tools whilst in the Accelerator: Improving policy and claims admin I Improving UW tools and processes I Data, product & service consolidator I Enhancing back-end data efficiencies 

Inari used its time in the Lab to further its understanding of the London Market’s expectations from its policy administration systems. This insight influenced Inari’s decision to build its ecosystem. They obtained partners during or soon after the Cohort. 

During the Lab, inari modified its systems to underwrite cyber risks from submission to post bind a piece of risk, in minutes instead of days. inari did this in addition to integrating with several external data sources for cyber risk.