New Fraud Loss Insurance Solution Recognized For Its Innovation By Two Leading Industry Awards

Instnt, the first AI-powered platform offering insurance coverage for identity and first-party fraud losses, announced today its recognition as a finalist for Fintech Futures’ BankTech Award in the Start-Up of the Year category and by the Cloud Awards’ Fintech Awards in the Best SaaS for Fintech category.

Instnt operates at the intersection of Fintech, Insurtech and AI, enabling financial institutions to eliminate financial exposure from identity-driven and first-party fraud by transferring liability to AM Best A-rated insurers, freeing up capital reserves. With no code and low-code integration, Instnt works alongside existing fraud detection tools for fast deployment and immediate coverage. Instnt’s automated claims processing ensures that loss claims are reimbursed in less than 30 days.

“Our platform is transforming how businesses manage identity and first-party fraud—types of fraud that most directly impact onboarding, credit risk, and revenue,” said Sunil Madhu, Founder and CEO of Instnt. “These award recognitions are a testament to our unprecedented model and market positioning. Fraud loss isn’t going away, but we’re radically shifting the liability from businesses to the insurance market, freeing up millions in capital reserves.”

The BankTech Awards recognize fintech achievements, from cutting-edge technology providers to forward-thinking banks, credit unions and financial institutions. The 26th annual Banking Tech Awards winners will be unveiled at a ceremony at the Royal Lancaster London on May 19, 2025.

The FinTech Awards is a new awards program operated by long-running cloud computing awards body The Cloud Awards. The program recognizes excellence across various aspects of financial technology, including overall technical excellence, applications in financial services (such as banking, insurance or investments), and financial operations across organizations in any industry. Organizations of all sizes from across the globe, including the U.S., Canada, the UK, Europe, the Middle East, and APAC, submitted for consideration. Fintech Award winners are expected to be announced on April 22, 2025. The full list of finalists can be viewed here.

Learn More About Fraud Loss Insurance

Fraud Loss Insurance is now available to businesses seeking to transform their approach to fraud risk management. Visit https://instnt.ai or contact us at hello@instnt.ai to learn more or request a personalized quote.

About Instnt

Instnt is a venture-backed insurance technology business headquartered in New York. Instnt's AI mitigates fraud risks for businesses and transfers residual losses to the insurance market through a unique partnership with global A-rated insurers, saving businesses millions in operational and treasury costs. Instnt was founded by its CEO, Sunil Madhu, serial entrepreneur, founder and former CEO of $5B fraud identity leader, Socure. For more information, visit www.instnt.ai.

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