Saphron Raises $1M

Meet Saphron :

The Manila-based insurance startup was founded this year and is made up of “tech and spice, and everything nice.” And if that isn’t clear enough, here’s more: Led by Francisco Reyes, cofounder and CTO, Saphron recently completed a $1m seed round to build an insurance platform for insurers that will add what Reyes considers the missing element in the current landscape – aka ‘accessibility’. “Our dream is to create a truly digital experience for our clients’ users, from searching for a suitable cover, to convenience in payments, to simplicity in claims processing. Our platform will be optimized with artificial intelligence and real-time data analytics for underwriting and customer service. And we will build a blockchain-based know your customer (KYC) system with biometric identity verification for secure payments processing.” – Reyes.