Insurtech startup InRisk Labs has secured $27 million in a Series A funding round co-led by Bessemer Venture Partners and Northpoint Capital. The fresh capital will help the company strengthen its technology-driven reinsurance platform, expand into additional non-life insurance segments and scale its licensed reinsurance subsidiary, EarthRe.
The funding marks a significant milestone for India’s growing insurtech ecosystem as companies increasingly leverage artificial intelligence, advanced analytics and climate-risk modelling to modernise insurance and reinsurance operations.
InRisk Labs plans to utilise the new capital to enhance its underwriting, actuarial, catastrophe-modelling and AI capabilities. The company will also expand its offerings across NAT CAT (natural catastrophe) and climate risk, along with other non-life insurance segments, including marine cargo and motor insurance.
Additionally, the startup will accelerate the development of parametric and structured reinsurance products while scaling the operations of its subsidiary, EarthRe.
The company also announced that EarthRe Insurance IFSC Limited has received a licence from the International Financial Services Centres Authority (IFSCA) to operate its reinsurance business.
According to InRisk Labs, the business has evolved from a technology-led insurtech platform into an integrated reinsurance group with licensed risk-bearing capacity. While InRisk Labs develops the group’s technology, data and risk-intelligence infrastructure, EarthRe deploys these capabilities through a regulated reinsurance balance sheet focused on India and the broader Global South.
Commenting on the company’s vision, Malay Kumar Poddar, Chief Executive Officer, EarthRe, said, “India will be the most consequential insurance market over the next two decades. To drive sustainable growth, we must build indigenous capacity and tailored solutions built by India, for India.”
The company said EarthRe is being developed as a technology-first non-life reinsurer with capabilities spanning natural catastrophe (NAT CAT) and climate risk, as well as property, crop and other specialty insurance lines.
Its platform combines domain-led underwriting with catastrophe modelling, climate-risk analytics and advanced structured reinsurance solutions. The technology infrastructure integrates multiple datasets, including climate, geospatial, satellite, exposure and claims data, to improve risk selection, pricing, portfolio construction and capital allocation.
The latest investment highlights growing investor confidence in AI-powered insurance infrastructure startups that are building specialised solutions for emerging markets. As climate-related risks and insurance demand continue to rise, technology-enabled reinsurance platforms are expected to play an increasingly important role in strengthening risk management across the sector.
