Proof IT

Core insurance platform provider for European P&C, health, and reinsurance carriers

Core Administration Established Bootstrapped

Overview

Proof IT is a core insurance platform provider serving P&C, health, and reinsurance carriers in Europe. Founded in 2004 in Riga, Latvia, the company entered the insurance industry in 2008 and has since built a dedicated insurance practice around a modular, cloud-ready core platform covering policy administration, claims handling, accounting, reporting, and partner management for motor third-party liability, general P&C, health, and reinsurance lines.

The core platform is delivered as 20+ specialized modules spanning the full insurance lifecycle, from onboarding through claim payout, for both retail and B2B corporate business. Around this core, Proof IT has added a set of AI-driven modules: ClaimAI for automated claims processing, fraud detection, and damage assessment; Proof AI CS, a 24/7 AI customer support layer for policyholder service interactions; and AI TPA, machine learning and NLP tooling for third-party claims administration. A separate product, Proof EMB, offers APIs and mobile SDKs for embedding insurance products into third-party offerings, and Proof Consult provides digital-transformation advisory alongside the platform.

Proof IT reports crossing EUR 1 million in turnover in 2012 and EUR 6 million in turnover in 2023, and counts Vienna Insurance Group, ERGO, and Gjensidige among its long-term core-platform clients. The company is ISO 27001 and ISO 9001 certified and GDPR compliant, and operates as a bootstrapped, self-funded business with roughly 90-100 engineers across Latvia and Lithuania (expanded there since 2019).

Products & Services

Insurance Core Platform

Modular, cloud-ready core system digitizing the full insurance lifecycle from onboarding through claim payout. Built as 20+ specialized modules covering policy administration, claims registration, handling and liquidation, accounting, and reporting.

Key Features

Supports motor third-party liability, general P&C/non-life, health, and reinsurance lines
Serves both retail and B2B corporate insurance business
Modular architecture allowing incremental adoption

Target Users: P&C, health, and reinsurance carriers

ClaimAI

AI-driven claims automation module handling automated claims processing, fraud detection, and damage assessment as part of the claims workflow.

Target Users: Carriers' claims operations teams

Proof AI CS

24/7 AI-powered customer support solution using chatbots and virtual assistants to handle policyholder service interactions.

Target Users: Carriers' customer service operations

AI TPA

Third-party claims administration tooling that applies machine learning and NLP to automate TPA workflows.

Target Users: Third-party administrators and carriers outsourcing claims handling

Proof EMB

Embedded-insurance platform offering APIs and mobile SDKs so startups and other companies can integrate insurance products into their own offerings.

Target Users: Non-insurance businesses embedding insurance products

Proof Consult

Strategic consulting layered on top of the core platform, guiding insurers through digital transformation.

Target Users: Carriers undertaking digital transformation initiatives

At a Glance

Founded: 2004
Headquarters: Riga, Latvia
Employees: 51-200
Funding: Bootstrapped

Category & Focus

Category: Core Administration
Subcategories: Claims Technology Customer Engagement Insurtech Infrastructure
Insurance Verticals: P&C Commercial P&C Personal Health Reinsurance
Target Customers: Carriers