Instnt, a venture-backed insurance technology company, has announced a strategic partnership with global reinsurer Munich Re to expand reinsurance capacity for its Fraud Loss Insurance product.
Instnt developed this solution to address the heavy burden of fraud on businesses, which cost an estimated $485.6 billion globally in 2023.
The Fraud Loss Insurance product combines AI-driven identity verification and fraud detection with insurance-backed protection, helping businesses transfer fraud risk and recover quickly from losses.
The solution enables businesses to confidently onboard more legitimate customers while reducing exposure to financial losses from identity fraud.
This partnership deepens Instnt’s relationships with leading insurance companies, including Accredited and Howden, underscoring the credibility and strength of its offering.
Michael von Gablenz, Head of Insure AI at Munich Re and HSB, said, “Instnt combines AI-based fraud detection technology with financial risk transfer, in case the AI fails to recognize fraud events. This combination of AI and fraud insurance can provide protection for companies against a wide range of fraud events.
“My team utilizes experience and expertise from our aiSure™ AI insurance solution and acts as reinsurer behind Instnt’s Fraud Loss Insurance.”
Sunil Madhu, Founder and CEO of Instnt, added, “Our mission is to make fraud a manageable, insurable risk, not a constant cost of doing business.
“With Munich Re’s backing, we’re delivering the robust underwriting, loss mitigation, and claims management capabilities needed to support this transformative protection.”
