INSHUR, a global embedded insurance provider for the on-demand economy, has raised $19 million in its latest funding round.

The round was led by Viola Growth, with the participation of MS&AD Ventures and existing investors. It brings INSHUR’s funding to a total of $78.5 million. Natalie Refuah, general partner at Viola Growth, will also join INSHUR’s board of directors as its nominated chairperson, bringing experience helping founders and entrepreneurs to build and scale global category leaders.

“The future is on-demand,” said INSHUR CEO Dan Bratshpis in a company press release. “In just a few years, the way we access services like taxis and the way we purchase our groceries and pizzas has changed forever. As the on-demand economy gains momentum around the world, it’s our mission to support the world’s biggest platform and insurance partners in ensuring that insurance coverage is fair and accessible for on-demand economy drivers.”

Following INSHUR’s acquisition of American Business Insurance Services in April, the company has expanded its services across the U.S. and enhanced its offering for both drivers and platform partners globally. This latest funding round investment will enable the business to continue scaling its operations globally, particularly in the U.S., establish and develop further relationships with key platform partners, and continue to build its global team of insurance and technology experts, according to the release.

As part of these ongoing efforts, INSHUR welcomes Bill Walrath as its director of US Markets. With more than two decades of insurance leadership experience, Walrath will lead US insurance business operations for INSHUR, including reinsurance and carrier management. Walrath previously served as the head of MGA/Reinsurance with Gateway, where he led the efforts to manage the programs growth and profit initiatives along with the placement of the reinsurance portfolio. He also held several senior leadership roles during his 23 years at Farmers Insurance.

Source: INSHUR