FortuneGuard, a Ukrainian InsureTech startup that has developed an AI-powered war risk insurance solution for Ukraine, is now in talks to raise capital and take the model to new markets and product lines.
The solution, launched in partnership with UK reinsurance broker McGill and Partners and ARX Insurance, a Ukrainian subsidiary of Canadian insurer Fairfax Group, has been used since January to quote $2 billion in coverage for warehouses, shopping centers, and other assets in Ukraine, with capacity provided by Lloyd’s of London and other London market insurers.
