China-based online insurance provider Nanyan has raised $15m in a series B-plus round led by Starr Investment Holdings, the investment subsidiary of insurance firm CV Starr, China Money Network has reported.
The round featured venture capital firm BlueRun Ventures and technology and trading firm SIG.
Founded in 2015, Nanyan leverages artificial intelligence technology to provide a range of services covering the entire insurance claims process.
The company works with more than 70 insurance providers, collaborating on product distribution, system services, product customition and risk control claims services. It claims to provide insurance to 130 professional agencies.
Nanyan recently launched a product that focuses on insurance, reinsurance, trading and intermediary enterprise resource planning systems. It has also formed a health management service that offers data analysis, networking and insurance product interrogation services.