San Francisco-Based Raised $1.5M in Seed Round

The first insurance company, Lloyd's of London, was founded back in 1686 as a place for merchants on the sea to insure their cargos. For a fund management fee, Lloyd's of London collected premiums from the merchants and paid out claims to the merchants who lost their cargos. This same infrastructure of having an expensive human organization act as the trusted fund holder hasn't changed in the past 300 years.
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