Loro Raises $1.1M Seed Round to Revolutionize Specialty Insurance Distribution

Title: Loro Launches No-Code Platform to Empower Insurance Innovators

Loro, a startup in the insurance tech space, has announced the launch of its no-code platform, made possible by backing from Markd. This unique offering includes a free tier designed for up to $100,000 in gross written premium (GWP) annually. The goal is to enable a new generation of insurance professionals to build and distribute insurance products without needing extensive technical expertise.

About the Platform

The Loro platform aims to simplify the insurance product development process. By eliminating the need for coding, Loro is targeting entrepreneurs and small businesses looking to enter the insurance market. This initiative could significantly lower the barriers to entry, allowing more individuals to innovate within the specialty insurance sector.

Funding and Future Plans

Recently, Loro successfully raised $1.1 million in a seed funding round. The investment will support the platform's development and growth, allowing the company to enhance its features and expand its user base. While this financial backing is notable, the true impact will be measured by how effectively the platform enables its users to create and distribute their own insurance products.

Who It Affects

This initiative is particularly relevant for aspiring insurance entrepreneurs, existing small insurance companies, and anyone interested in finding new solutions in risk management. By providing accessible tools, Loro could empower a wide range of professionals who previously might have been unable to navigate the complexities of insurance product development.

As Loro rolls out its platform, industry watchers will be keen to see how it performs and what kind of innovations emerge from this new wave of insurance builders.

Original Source: https://www.wvnews.com/news/around_the_web/partners/pr_newswire/subject/venture_capital/loro-raises-1-1m-seed-round-to-revolutionize-specialty-insurance-distribution/article_85bb9eae-a174-5a67-90ec-18b5dfd5b789.html