InsureTEK, Inc.

Team of experienced insurance, technology, and real estate professionals to address the largest insurance/risk issue in the commercial property business: water damage and waste.
Nashville

About InsureTEK, Inc.

InsureTEK was founded in late 2020 by a team of experienced insurance, technology, and real estate professionals to address the largest insurance/risk issue in the commercial property business: water damage and waste.

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Problem statement

Water damage is the leading cause of insurance claims and losses in commercial buildings, by far. Water usage, and the carbon footprint of water, is a topic that is increasingly front and center. Insurers have responding to large water damage problem by shifting the risk to the customer/building owner/operator via higher deductibles. InsureTEK was founded to address this.

Traction information

At InsureTEK we’ve taken a systems level approach to addressing water in buildings, via an offering we call Loss Control as a Service (LCaaS). Our LCaaS platform Yogi comprises off-the-shelf sensors monitored/controlled by an AI enhanced software platform. Our offering is “capex lite” with no upfront cost, simply a monthly ongoing fee with a quick payback period for the customer. Over time the value of the data collected with create additional revenue opportunities, as InsureTEK can offer captive insurance, later other data/insight related services.
To complement our LCaaS offering we partner with industry leaders to enhance/ease the customer experience in engineering, procurement, installation, finance, performance warranty, monitoring, remediation. A truly full-service offering.

Updates

Profile created.
Added 11 months ago

Funding

Currently raising capital

$1,200,000
committed
$5,000,000
round goal
Total raised to date:$4,000,000
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