Insurtech Digisure ceases operations

Digisure , a startup founded in 2018 known for its Protection-as-a-Service platform, has officially ceased operations as of last Friday.

In a statement from Paul Smith, the COO and co-founder of Digisure shared that they were unable to raise new capital despite a growing revenue base. “We are very proud of all of our team’s efforts and milestones achieved in the way that rental insurance is created and distributed, including $50 million in premiums and 15,000 claims processed.”

Over its operational years, Digisure attracted more than $20 million in funding from a diverse group of investors, including Xplorer Capital, Morado Ventures, Valor Equity Partners, Clocktower Technology Ventures, and Tech Pioneers Fund. 

Digisure offered risk screening, policy administration, insurance management, and claims handling services. Its core innovation lies in developing risk and trust scores tailored for the sharing economy, a market that poses unique challenges in terms of commercial viability. Its clientbase included RVshare, Envoy Technologies, GIG Car Share, and Autonomy; to name a few.