memo

3. Detailed Memo

Investment memoConfidential

Snap Claim

Snap Claim is the claims-first insurtech behind the 60-second mobile claim: a policyholder files in under a minute, and Snap Claim's AI triages, enriches and adjudicates in the background so carriers settle routine claims faster, cheaper and with less fraud leakage.

RoundSeries A
Ask$18M at $90M post
DateJuly 2026
Strictly private & confidentialM 01 / 16
Cover

Cover

Snap Claim is the platform behind the 60-second mobile claim: the policyholder files in under a minute, and Snap Claim's AI adjudicates in the background, cutting carrier loss-adjustment expense while giving claimants a claim that feels like a payments app.

Snap Claim is the platform behind the 60-second mobile claim: the policyholder files in under a minute, and Snap Claim's AI adjudicates in the background, cutting carrier loss-adjustment expense while giving claimants a claim that feels like a payments app.

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Problem

For a routine claim, most of what a carrier pays is handling, not loss: $40 to $90 of loss-adjustment expense per claim, and days to weeks to close.

For a routine claim, most of what a carrier pays is handling, not loss: $40 to $90 of loss-adjustment expense per claim, and days to weeks to close.

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Solution

Snap Claim collapses the routine claim to a 60-second phone flow and straight-through adjudication, better for the claimant and structurally cheaper for the carrier.

Snap Claim collapses the routine claim to a 60-second phone flow and straight-through adjudication, better for the claimant and structurally cheaper for the carrier.

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Product

FNOL capture, an AI triage engine, straight-through adjudication and settlement, embedded inside the carrier's book.

FNOL capture, an AI triage engine, straight-through adjudication and settlement, embedded inside the carrier's book.

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How it works

Snap, triage, enrich, adjudicate, pay. First payment in 19 hours against a 6.2-day carrier baseline.

Snap, triage, enrich, adjudicate, pay. First payment in 19 hours against a 6.2-day carrier baseline.

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Value proposition

Better than an in-house build, a legacy TPA or a single-point AI tool: Snap Claim owns the whole claim end to end.

Better than an in-house build, a legacy TPA or a single-point AI tool: Snap Claim owns the whole claim end to end.

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Features

60-second FNOL, AI triage, straight-through adjudication, instant settlement, carrier-grade model governance.

60-second FNOL, AI triage, straight-through adjudication, instant settlement, carrier-grade model governance.

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Why now

LAE at multi-year highs, adjudication AI past the STP bar, policyholders expecting a payments-app claim.

LAE at multi-year highs, adjudication AI past the STP bar, policyholders expecting a payments-app claim.

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Market

A $42B US LAE-automation TAM, an $11B high-frequency SAM, a $310M five-year SOM.

A $42B US LAE-automation TAM, an $11B high-frequency SAM, a $310M five-year SOM.

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Business model

$6.00 SaaS plus $3.60 LAE-share per claim, $9.60 blended, 74% gross margin rising to 82%.

$6.00 SaaS plus $3.60 LAE-share per claim, $9.60 blended, 74% gross margin rising to 82%.

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Go to market

Carrier-first enterprise landing, then embedded expansion across lines inside a live book.

Carrier-first enterprise landing, then embedded expansion across lines inside a live book.

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Team

Daniel Goddard ran claims ops at a top-5 carrier. Priya Nair, document AI. Marcus Ellison, FCAS.

Daniel Goddard ran claims ops at a top-5 carrier. Priya Nair, document AI. Marcus Ellison, FCAS.

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Competitive advantage

The only platform that owns the claim end to end, across lines, sold to carriers and priced on LAE saved.

The only platform that owns the claim end to end, across lines, sold to carriers and priced on LAE saved.

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Roadmap

Seven carriers to 52, STP 41% to 61%, EBITDA-positive by Year 3.

Seven carriers to 52, STP 41% to 61%, EBITDA-positive by Year 3.

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Appendix

Forecast

Revenue from $8.4M today to $87.5M in Year 3, EBITDA-positive in Year 3.

Revenue from $8.4M today to $87.5M in Year 3, EBITDA-positive in Year 3.

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The ask

Ask

Raising an $18M Series A at $90M post to scale the platform behind the 60-second claim.

Raising an $18M Series A at $90M post to scale the platform behind the 60-second claim.

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