Insurtech Humn and RPA Supervisor Secure Funding

Both tech companies were founded in 2018 and both plan expansion across Europe.

Insurtech Humn and robotic process automation firm RPA Supervisor have garnered some tech funding in the UK.

London-based Humn has raised £10.1 million in Series A funding led by BXR Group and Shell Ventures as well as Hambro Perks Leaders Fund and Woodside Holdings. With the investment, Humn aims to develop its insurance data capabilities and expand the commercial functions of the business, as well as expanding into Europe next year.

RPA Supervisor secured $5 million (£3.6 million) in a Seed round led by MMC Ventures. It also welcomes its newest board member and investor Pascal Baker, formerly founder of Symphony Venture. The investment will boost the startup’s innovation plans, feeding into research & development and expansion across EMEA and the US.

Humn Presses the Accelerator

Founded in 2018, Humn provides motor fleet insurance. It consolidates the “traditionally” separate categories of fleet insurance and risk management.

Humn’s risk platform, riskOS, analyses in-vehicle and external data points, in real-time, to provide a contextual assessment of driving risk and a basis for the pricing of Rideshur, its insurance product. Rideshur continuously adjusts the insurance premium cost based on the risk exposure at any given moment.

CEO of Humn, Mark Musson, says: “This investment adds the fuel to power our scaleup phase. We have built the data moat and unique tech IP stack to fundamentally change commercial fleet insurance. Our goal now is to deliver exponential commercial growth of our MGA in the UK and select EU territories.”

Over the past year, Humn has secured an insurance licence from the Financial Conduct Authority and insurance capacity with delegated underwriting authority. Humn is now rolling out Rideshur with broker networks, distribution partners and fleets.

Like a Boss

RPA Supervisor is headquartered in Bergen (Norway) but has offices in London and Oslo. Like Humn, it was established in 2018.

According to the firm, 30-50% of RPA projects fail. It believes this often stems from the management of robots once deployed to production.

Erik Lien, CEO at RPA Supervisor, comments, “Over the last few years the appetite amongst private organisations to deploy RPA robots to streamline and automate processes in new working environments has skyrocketed. Now, organisations will need to scale these RPA capabilities to realise the full value of those investments. This requires efficient management, orchestration and insight into the performance of the robots.”

RPA Supervisor is a web-based platform which automatically orchestrates existing RPA solutions within an organisation and provides management capabilities.

It provides a prioritisation engine which monitors RPA operations, delivering insights and real-time reporting. Organisations can check the health, status and capabilities of robots, status and work rate for all processes, workload for each process and SLA adherence of each process and worker.

It has clients across financial services, supply chains and retail. Case studies on its website include BN Bank and Sparebanken Sør in Norway.

It partners with RPA vendors such as UiPath, Blue Prism, Automation Anywhere and Microsoft, along with consulting and reselling partners like EY, Accenture, CGI, Reveal Group, Avo Consulting and Digital Workforce.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
Get the Free Newsletter
Subscribe to Techrepublic UK for weekly updates from Techrepublic and eWEEK on the latest in UK top tech news, trends & analysis
This email address is invalid.
Get the Free Newsletter
Subscribe to Techrepublic UK for weekly updates from Techrepublic and eWEEK on the latest in UK top tech news, trends & analysis
This email address is invalid.

Popular Articles