Climate-insurtech company InRisk Labs has raised $27 million in a financing round co-led by Bessemer Venture Partners and Northpoint Capital, alongside a regulatory milestone for its reinsurance subsidiary. EarthRe Insurance IFSC has received its final reinsurance licence from the International Financial Services Centres Authority, creating a regulated platform through which the group can expand its climate and disaster-risk products.
The transaction values the group at approximately $70 million. A substantial portion of the new capital is intended to support the regulated reinsurance operation, while the broader group continues developing technology-led parametric insurance products. The funding and licence bring together two elements needed to scale climate-risk coverage: underwriting capacity and a technology platform capable of modelling, pricing and monitoring highly specific environmental exposures.
InRisk builds parametric products that trigger claims using independently verifiable measurements rather than relying solely on conventional post-event loss assessments. The company’s models can incorporate rainfall, temperature, wind speed, soil moisture, solar irradiation and other predefined indices. When an agreed threshold is breached, the structure is designed to initiate a payout without waiting for the complete physical-damage assessment associated with traditional indemnity insurance.
The platform combines climate analytics, actuarial modelling, geospatial data, AI-assisted pricing, real-time monitoring and blockchain-based contract automation. Its risk models use institutional datasets from organisations including the India Meteorological Department, NASA and the European Space Agency. Coverage models extend across Indian states, districts, sub-districts, gram panchayats, villages and postal codes, allowing products to be configured for geographically concentrated risks.
The company’s product portfolio spans agriculture, livestock, renewable energy, logistics, infrastructure and business interruption. Crop products address drought, excess rainfall, flooding, hailstorms and temperature-related productivity losses. Other structures cover livestock heat stress, solar and wind-generation shortfalls, climate-linked deterioration in rural loan books, wage losses caused by extreme weather, port interruptions and construction or highway exposures. Insurance and distribution partners can connect through APIs for pricing, product configuration and claims monitoring.
InRisk’s founding group combines insurance, actuarial and data-science experience. Malay Poddar previously chaired the Agricultural Insurance Company of India, while Siddesh Ramasubramanian served as its chief risk officer and chief actuary. The founding team also includes data scientist Shivakumar and insurance product specialist Aavrit Singhal. Poddar and Ramasubramanian previously worked on a portfolio representing about $1.7 billion in premiums and roughly half of India’s agroclimatic insurance market at the time described by an early institutional investor. Investment background
The IFSC licence gives EarthRe a formal base for reinsurance activity as the group moves beyond supplying analytics or product-design tools. The combination of fresh capital, regulated capacity and automated risk infrastructure positions the business to work with insurers, governments, development institutions and intermediaries on climate exposures that require rapid, rules-based payouts.
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