Exclusive: Insurtech Liberate Innovations raises $7M

Liberate Innovations, a maker of tech for insurers to automate claims and communicate with their customers, raised $7 million in seed funding.

Why it matters: The new company is launching at a time when insurers are battling rising costs amid rising inflation and a surge in extreme weather — macro factors that impacts the entire industry.

Details: Liberate pitches itself as a way to streamline functions for insurers and ease some of that inflationary cost pressure building up.

• Co-founded by former Metromile executive Amrish Singh, Liberate automates the collection of claims requests, payments information, and data needed for the underwriting process.
• Liberate integrates with other vendors, allowing customers to find a repairman or book a rental car within an insurer's app. It also allows customers to build their own app.
• "We want to be a one-stop shop for engagement between customers and insurers," says Singh.
• Eclipse Ventures led the round.

Of note: Founded in April 2022, Liberate now has 11 employees, and plans to add two to three staffers every month or so.