Instnt enters California market

Instnt, a company offering a customer onboarding platform that includes fraud loss insurance, announced that its coverage is now available in California.

Last month the company announced a partnership with Munich Re to expand reinsurance capacity for its fraud loss insurance product.

The Instnt platform helps businesses identify and onboard authentic customers while blocking fraud attempts. Businesses can then purchase coverage against fraud in case the platform failed to recognize fraud. Claims can be filed online and payouts are received within 30 days.

“To genuinely help eliminate fraud loss from balance sheets, we need to meet businesses where they are, and that means earning trust at both the regulatory and operational levels. California is home to some of the most innovative companies in the world. We’re proud to bring our solutions to businesses in the state through the surplus lines market to mitigate fraud loss.” – Sunil Madhu, Founder and CEO of Instnt.