Slope Software, an Atlanta InsurTech Startup focused on actuarial modeling for insurers, has raised a $2 million early-stage investment designed to fuel product development and growth.
“It is time for the insurance sector to embrace new technology and methods in its actuarial work,” Andy Smith, Co-Founder and CEO of Slope, said in prepared remarks. “With the support of our investors, Slope is well positioned to transform the way actuarial work is performed across the industry.”
Early-stage investment firm Tech Square Ventures led the round, which was joined by Alerion Ventures and Charlotte Angel Fund. Existing investor Cofounders Capital also took part, the company said.
Slope is a 100 percent cloud-native actuarial modeling system centered around a single unified platform. Slope claims the system eliminates IT overhead, and provides seamless access to data, helping teams to develop insights and build value quickly and efficiently.
The company pitches its technology as making the actuarial process much quicker and more efficient. Slope said it simplifies and streamlines actuarial operations workflows across a wide range of use cases, including reserve calculations, product pricing, asset-liability management, embedded value, and capital projections.
Slope claims its technology has delivered as much as 95 percent efficiency gains to its customers.