Fraud Loss Insurance Pioneer Expands to Nation’s Largest Tech and Finance Market

Instnt, the world’s first identity fraud loss insurance solution, announced today that its surplus lines are now available in California. The expansion enables Instnt to offer its AI-powered, insurance-backed fraud loss protection to the largest population and tech economy in the U.S.

Instnt’s offering complies with surplus lines regulations and is now accessible to California businesses. This marks a key step in the company’s nationwide expansion, following similar certifications in states including New York. It highlights Instnt’s commitment to meeting the highest standards of compliance as it introduces a new category of risk-transfer innovation to financial institutions, fintechs, and digital-first businesses in California.

“To genuinely help eliminate fraud loss from balance sheets, we need to meet businesses where they are, and that means earning trust at both the regulatory and operational levels,” said Sunil Madhu, Founder and CEO of Instnt. “California is home to some of the most innovative companies in the world. We’re proud to bring our solutions to businesses in the state through the surplus lines market to mitigate fraud loss.”

Instnt’s Fraud Loss Insurance solution enables organizations to transfer residual fraud losses from their balance sheets to globally AM Best A-rated insurers without replacing their existing fraud tools. Designed for seamless integration through no-code or low-code implementation, Instnt can be deployed in days, providing immediate protection with minimal disruption.

With fraud losses exceeding $485 billion worldwide in 2023, and each $1 in fraud costing U.S. financial institutions an average of $4.41, Instnt empowers organizations to stay ahead of increasingly sophisticated threats while safeguarding customer onboarding and revenue growth.

Now Available to California Businesses

Businesses operating in California can now access Instnt’s groundbreaking fraud loss insurance solution. Visit https://instnt.ai or contact hello@instnt.ai for more information or to request a tailored quote.

Surplus lines coverage is underwritten by a non-admitted insurer and is only available through a licensed surplus lines broker. This insurance is neither licensed by nor supervised or guaranteed by any state department of insurance. Instnt is not an insurer and offers coverage through the surplus lines market in partnership with A-rated carriers and licensed brokers.

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 https://instnt.ai.

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“To genuinely help eliminate fraud loss from balance sheets, we must meet businesses where they are, and that means earning trust at both the regulatory and operational levels,” said Sunil Madhu, Founder and CEO of Instnt.