{
  "id": 11126926,
  "title": "FRANK raises €2.9M to cut paperwork for insurance brokers",
  "url": "https://urgent.news/2026/10/01/frank-raises-2-9m-to-cut-paperwork-for-insurance-brokers",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-10-01T06:00:00.000Z",
  "source": {
    "name": "Tech.eu",
    "slug": "tech-eu",
    "url": "https://tech.eu/2026/10/01/frank-raises-eur29m-to-cut-paperwork-for-insurance-brokers/"
  },
  "original_language": "en",
  "account": "Portuguese AI insurtech startup FRANK has secured €2.9 million in investment to advance its AI-driven platform for insurance brokers and prepare for global expansion. The funding round, led by Armilar and Start Ventures, was spearheaded by co-founders Antonio Castro, Ricardo Vallejo, and Alexandre Silva. FRANK's solution targets the administrative burdens faced by insurance brokers, who often spend 80% of their time on tasks like requesting quotes, following up on claims, and updating client data across various insurer systems and portals. António Castro, co-founder and CEO of FRANK, emphasized the need to free brokers from operational work so they can focus on risk advisory and client interactions while promoting insurance literacy and better protection for consumers. The AI Operator, FRANK's virtual assistant, replicates human actions across insurance brokerage systems, connecting with communication channels like email and WhatsApp, reading documents, identifying processes, and flagging missing information to brokers. It then logs into the necessary systems, enters data, and returns results, such as insurance quotes or claim updates. Since launching commercially less than a year ago, FRANK's platform has been adopted by over 350 insurance agencies and brokerages, serving more than 1,500 users across Portugal. The technology handles 70,000 back-office tasks per month, with brokers reporting an average of ten hours of administrative time saved per week. The newly raised capital will be used to enhance support for existing clients, invest in research and development, and prepare for international expansion in 2027 while strengthening FRANK's presence in Portugal.",
  "summary": "Portuguese insurtech FRANK hasraised €2.9 million in a funding round led by Armilar and Start Ventures to further develop its AI-powered platform for insurance brokers and prepare for international ex...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}