Instnt partners with Munich Re

Instnt, a company offering a customer onboarding platform that includes fraud loss insurance, announced a partnership with Munich Re to expand reinsurance capacity for its fraud loss insurance product.

The collaboration deepens Instnt’s relationship with insurance companies, which also includes Accredited and Howden, among others.

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.

“Instnt combines AI-based fraud detection technology with financial risk transfer, in case the AI fails to recognize fraud events. This combination of AI and fraud insurance can provide protection for companies against a wide range of fraud events. My team utilizes experience and expertise from our aiSure™ AI insurance solution and acts as reinsurer behind Instnt’s Fraud Loss Insurance.” – Michael von Gablenz, Head of Insure AI at Munich Re and HSB.

“Our mission is to make fraud a manageable, insurable risk, not a constant cost of doing business. With Munich Re’s backing, we’re delivering the robust underwriting, loss mitigation, and claims management capabilities needed to support this transformative protection.” – Sunil Madhu, Founder and CEO of Instnt.