Virtual i Technologies
Virtual i lets insurance industry see the risks. We believe EACH risk should be seen and assessed before it is insured. We bring a simple answer to a complex, unsolved current problem. We believe that EACH AND EVERY risk should be seen and assessed, either by computer eye or by human eye. We prefer by both. Our mission is to democratize high-quality and normally expensive services such as risk engineering and loss prevention and to allow business owners to access loss prevention advisory services, thus ensuring their business continuity in difficult times. We trust that small and medium enterprises are the basis of sustainable growth and want them to survive and prosper. We do not use big words, but do big things. We enable the insurance industry to move from good faith-based underwriting to data-based dynamic decision making. Our solutions are unique and affordable, tech-based, bringing your business immediate, visible results. We achieve cost savings for insurers, that will be able to work with any risk engineer anywhere in the world without the need to travel to the site of the project. With our tools our clients manage to highlight more risks during the underwriting process and thus the probability of picking up a bad risk is reduced. Loss ratio dropped by up to 12% after using our proprietary platform - Virtual Risk Space™. Clients who tested us could measure up to 40% workload efficiency improvement in their technical team (underwriters, risk engineers etc). They managed to obtain up to 100% visibility and control over their portfolio. To implement Virtual Risk Space™ in your company, no change management and no change/ adaptation of IT systems is required. A simple training of your staff will do. Our tool is very smart and friendly. Our service is available immediately. It takes about a week to have it working in your company. See here details of Virtual Risk Space™, that allows structured data collection and quick objective scientific risk assessment: https://virtualitechnologies.com/vrs Virtual i is now developing capabilities powered by artificial intelligence and machine learning and has filed patents that will transform the way the insurance industry carries out risk engineering assessments.
Virtual i lets insurance industry see the risks. We believe EACH risk should be seen and assessed before it is insured. We bring a simple answer to a complex, unsolved current problem. We believe that EACH AND EVERY risk should be seen and assessed, either by computer eye or by human eye. We prefer by both. Our mission is to democratize high-quality and normally expensive services such as risk engineering and loss prevention and to allow business owners to access loss prevention advisory services, thus ensuring their business continuity in difficult times. We trust that small and medium enterprises are the basis of sustainable growth and want them to survive and prosper. We do not use big words, but do big things. We enable the insurance industry to move from good faith-based underwriting to data-based dynamic decision making. Our solutions are unique and affordable, tech-based, bringing your business immediate, visible results. We achieve cost savings for insurers, that will be able to work with any risk engineer anywhere in the world without the need to travel to the site of the project. With our tools our clients manage to highlight more risks during the underwriting process and thus the probability of picking up a bad risk is reduced. Loss ratio dropped by up to 12% after using our proprietary platform - Virtual Risk Space™. Clients who tested us could measure up to 40% workload efficiency improvement in their technical team (underwriters, risk engineers etc). They managed to obtain up to 100% visibility and control over their portfolio. To implement Virtual Risk Space™ in your company, no change management and no change/ adaptation of IT systems is required. A simple training of your staff will do. Our tool is very smart and friendly. Our service is available immediately. It takes about a week to have it working in your company. See here details of Virtual Risk Space™, that allows structured data collection and quick objective scientific risk assessment: https://virtualitechnologies.com/vrs Virtual i is now developing capabilities powered by artificial intelligence and machine learning and has filed patents that will transform the way the insurance industry carries out risk engineering assessments.
Virtual i Technologies has raised $2.3M across 2 rounds. Its most recent round was a Seed of $300k in Oct 2021. Full funding history, investors, and team are detailed below.
Funding history
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