State Auto Labs Fund Invests in AI Startup Flyreel
State Auto Labs Fund, the corporate venture and innovation arm of State Auto Insurance Companies, has invested in Flyreel, a company that offers insurance-specific AI (artificial intelligence) for commercial and residential property insurance carriers. The funding round was led by Gradient Ventures, Google’s AI-focused venture fund with participation also from Donan, a leading nationwide forensic engineering firm.
State Auto Labs brings together investment and insurance expertise to grow innovations that are reinventing the insurance industry. This is the fifth investment from State Auto Labs Fund.
Flyreel’s smart digital assistant guides the insured party, for example, a property owner, through a walkthrough taking iPhone photos and videos. The mobile app collects and analyzes relevant data, then sends reports via a dashboard back to the carrier, enabling better and more efficient experience for both policyholders and carriers.
Read more at VentureBeat.