InsurEngines

AI-powered insurance platform for product design, pricing, claims, and fraud detection

Data & Analytics Startup Seed

Overview

InsurEngines is an AI and IoT insurance technology platform developed by TECHENGINES S.R.L., an Italian startup headquartered in Florence, Italy. The platform is designed for carriers, MGAs, and insurance product designers, providing tools for product design, pricing, claims management, anti-fraud, and renewals without requiring programming skills.

The platform is cloud-native and built on a cluster-computing architecture, incorporating more than 20 proprietary machine learning and deep learning algorithms spanning generative AI, computer vision, natural language processing, and IoT analytics. Delivery spans SaaS and API integration layers, with a tech stack including Python, Java, Scala, Kubernetes, Docker, Kafka, ReactJS, NodeJS, Hadoop, Spark, Postgres, and Cassandra. The company operates a secondary office in Shanghai, China to serve APAC markets.

InsurEngines has received two Italian government grants -- the Tuscany Regional Toscana Muove grant in 2017 and the Italian National Smart&Start grant in 2019 (awarded to ClaimsAI). Customers include Drave Underwriting and Net Insurance. The company was founded by Xuejing Zhou, former co-founder of ConTe.it (Admiral Group Italy), along with a team positioned at the intersection of AI, IoT, and insurance.

Products & Services

InsurEngines Suite

A cloud-native insurance product platform enabling insurance product designers to build, price, and launch new insurance products in days rather than months. Supports auto, health, sports, devices, travel, pet, and home insurance lines.

Key Features

Product Design Engine for market analysis, tariff definition, and dynamic personalized pricing
Sales Optimization module with conversion algorithms and marketing funnel analysis
Renewals Engine with churn prediction and dynamic discount optimization
Actuarial Analytics for loss ratio prediction and reserve/IBNR forecasting
Analysis Engine enabling data scientists to independently deploy ML/AI models at scale

Target Users: Insurance carriers, MGAs, and insurance product designers

ClaimsAI

A claims management solution that classifies claims and accelerates settlement using AI, computer vision, and IoT telematics data.

Key Features

Mobile app for on-site damage photo capture by policyholders and inspectors
Computer vision processing to estimate damage costs from accident photos
IoT telematics integration for accident reconstruction and crash detection
NLP-driven claims classification

Target Users: P&C carriers and MGAs

Anti-Fraud Framework

An AI-based fraud detection system combining NLP, image recognition, and relation-graph analysis to identify fraudulent claims across insurance lines.

Key Features

NLP and image recognition for document and photo analysis
Relation-graph fraud network detection
Integration into carrier operational claims workflows

Target Users: Carriers and TPAs

RegTecAI Platform

A regulatory compliance automation tool for the insurance and financial sector.

Key Features

Automated document generation for regulatory compliance
Real-time regulatory monitoring
AI legal assistant for GDPR and compliance documentation

Target Users: Insurance carriers and financial institutions operating in regulated markets

MiyaAI

A natural language interface enabling insurance professionals and customers to interact with insurance systems through conversational AI rather than traditional paperwork workflows.

Key Features

Natural language queries for insurance, regulation, and compliance topics
Integration with legacy insurance system backends
Support for both professional and customer-facing interactions

Target Users: Insurance carriers and their customers

At a Glance

Founded: 2016
Headquarters: Florence, Italy
Employees: 11-50
Funding: Seed

Category & Focus

Category: Data & Analytics
Subcategories: Underwriting & Risk Claims Technology Compliance & Regulatory
Insurance Verticals: P&C Personal P&C Commercial Health Specialty/E&S
Target Customers: Carriers, MGAs/MGUs