Latest news with #PeterTilbrook
Malaysian Reserve
16-07-2025
- Business
- Malaysian Reserve
Loro Raises $1.1M Seed Round to Revolutionize Specialty Insurance Distribution
Backed by Markd, Loro offers the only no-code platform with a free tier for up to $100K in GWP annually—empowering a new generation of insurance builders DOVER, Del., July 16, 2025 /PRNewswire/ — Loro, the modern platform powering specialty insurance distribution, today announced the successful close of its $1.1 million seed funding round. The round was led by Markd, a prominent insurtech-focused investor, with participation from strategic angels across the insurance ecosystem. Loro enables carriers, MGAs, and program managers to build and distribute insurance products at unprecedented speed, while maintaining full underwriting control and unlimited distribution flexibility. The platform is also the only insurtech solution that offers a completely free tier for up to $100,000 in gross written premium (GWP) annually, with no minimum commitment. This bold move removes the traditional financial barriers that prevent new entrants from launching and scaling insurance programs. 'This investment is a vote of confidence in our mission to unlock a better future for insurance builders,' said Peter Tilbrook, CEO and Co-Founder of Loro. 'We've grown to over 25 clients globally, connected more than 600 brokers, and powered meaningful premium volume, all without compromising on speed, affordability, or flexibility. This new capital allows us to double down on building the infrastructure the specialty market has been waiting for.' Loro's no-code product builder lets users replicate their existing underwriting rules, logic, and pricing models– whether from spreadsheets or APIs– without needing to overhaul what works. Users can configure dynamic forms, set up complex document generation logic, and automate rating, invoicing, tax, and renewal flows in days. Built-in integrations with Stripe, ePayPolicy, DocuSign, Turris, and other tools allow for seamless quote-to-bind workflows. Unlike legacy systems, Loro is designed for multi-layered distribution, enabling users to assign and manage downstream brokers, retail agents, and partners in a fully digital environment. Every participant gets access to quoting, portals and performance insights, while the owner retains control of pricing, rules, and brand experience. 'Loro is doing something few others dare to do: empowering the people closest to risk to move faster, yet without them sacrificing any control,' said Parker Beauchamp, of Markd. 'The team understands the nuances of specialty insurance and is building with deep empathy for MGAs and carriers. We're proud to back them as they shape another chapter of insurance distribution.' Loro's 'speed to data' advantage provides real-time visibility into every quote, bind, and payment across the network. Clients can generate custom bordereaux, track commissions, automate Lloyd's reporting, and integrate all data points via API enabling true operational intelligence without delay. With this funding, Loro will accelerate its product roadmap, grow its global team, and invest further in connectivity, ensuring carriers, MGAs, brokers, and agents can work together on one unified, modern infrastructure. About LoroLoro is a no-code, multilingual platform purpose-built for specialty insurance. Designed to launch and distribute products in weeks, not months, Loro gives users full underwriting control, multi-level distribution, and real-time data access, all from a single interface. Loro is the only insurtech solution that's free up to $100K in GWP annually, with no minimum commitment. About MarkdMarkd is a venture capital company focused on funding and partnering with transformative insurtechs. It pays homage to the insurance industry's legacy while helping design its future. Markd's mission is to power substantial work and continually inspire more ideas to prevent hurt and loss.
Associated Press
06-05-2025
- Business
- Associated Press
Turris and Loro Collaborate to Give MGAs and Carriers the Advantage in Compliance and Digital Distribution
New Turris-Loro integration automates agent onboarding and compliance, slashing back-office costs and accelerating insurance distribution. NEW YORK, NY, UNITED STATES, May 6, 2025 / / -- Turris, the AI-enabled fintech specializing in automating compliance and financial operations for the insurance industry, and Loro, the innovative, no-code platform for specialty insurance product digitization and distribution, today announced a groundbreaking integration. This strategic integration allows the creation of an unlimited number of broker/agent partners to onboard painlessly, quote and bind digitally, and completely automate compliance and regulatory checks and filings. 'The Loro partnership with Turris showcases two key things modern MGAs and Insurers should be aspiring to achieve: speed to market and real-time, painless compliance,' said Peter Tilbrook, CEO and Co-Founder of Loro. 'At Loro, we're committed to making specialty insurance distribution frictionless and efficient. By integrating with Turris's operations automation platform, we're adding a critical layer of verification that protects our clients while further streamlining back-office operations.' 'Our integration with Loro represents a significant leap forward in partner onboarding and compliance automation for the insurance industry,' said Douglas Ver Mulm, CEO and Co-Founder of Turris. 'With real-time license verification for every policy sold, we're eliminating compliance risks that have long plagued the industry while simultaneously driving down operational costs through automation. We're already seeing this integration solve additional problems for joint customers, like E&S policy stamping by sharing state-specific agent license information.' The strategic integration addresses two key pain points in the insurance industry: (i) automating and speeding up the onboarding process, allowing partners to sell policies with less administrative burden; and (ii) ensuring that every agent selling a policy is properly licensed in their respective states—a critical compliance requirement. The partnership is expected to deliver significant compliance improvements and cost savings, with early adopters reporting: ● 100% real-time compliance verification across all distribution channels ● Elimination of compliance-related errors and risks ● Up to 75% reduction in back-office operational costs ● Near-elimination of manual E&S policy stamping workflows ● Accelerated agent onboarding and licensing processes This integration marks the first of several planned collaborations between Turris and Loro, with additional workflow automations in development to further streamline insurance back-office operations. 'Our vision is to create a truly unified platform where insurance professionals can focus on what matters most—building relationships and growing their business—while automation handles the complex compliance and financial operations in the background,' added Ver Mulm. The integrated solution is currently available to joint customers of Turris and Loro, with implementation support provided by both companies. About Turris Financial Technologies, Inc. Founded in 2023 and headquartered in New York, NY, Turris is a fintech startup specializing in automating compliance and financial operations for the insurance industry. The company's AI-enabled and API-first platform serves MGAs, carriers, brokers, and agents by streamlining back-office workflows, including agent onboarding, license verification, commission management, and payment processing. For more information, visit About Loro Insurtech Inc. Established in 2021 and based in Dover, Delaware, Loro enables MGAs and carriers to sell specialty insurance digitally across their distribution chain. They enable customers to launch insurance products in weeks, enhance underwriting with Loro Boost, and manage all aspects of their portfolio with clicks. Crucially, Loro opens all distribution avenues, including through complex multi-layered channels, giving customers, Brokers, and Policyholders a solution they love using. For more information, visit Media Contact: Media Inquiries Turris +1 646-212-1394 [email protected] Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
