Insurtech raises $3mill to help insurers transform

Simfuni is an Australasian Insurtech with the goal of transforming life insurance policy administration. Its modular, API-enabled, AI-ready platform empowers insurers to streamline operations, migrate closed books to reduce costs, grow open-book portfolios, meet regulatory requirements, and deliver exceptional customer experiences.

Headquartered in Auckland, Simfuni works with life insurers across New Zealand and Australia to modernise the policy lifecycle from onboarding to claims.

It recently appointed Tim von Dadelszen as its chief product officer. von Dadelszen co-founded Life Direct and Quotemonster, served as general manager of Trade Me Insurance, and most recently was head of digital innovation at Partners Life.

“Joining Simfuni is an opportunity to help reshape the future of insurance technology,” von Dadelszen says. “Our goal is to simplify complexity for insurers, unlock new operational efficiencies, and ensure customers have seamless, transparent experiences.”

The latest funding round was led by Icehouse Ventures with participation from GD1 and all other existing investors, each either taking up or increasing their allocation, alongside new backers including Ecliptic Capital and Kent Gardner, Chair of Jasper.

This latest raise brings Simfuni’s total funding to $5.8 million.

“Simfuni is tackling a multi-billion-dollar problem in the insurance industry with a solution that’s both timely and transformative. Their integration-first approach removes the barriers that have kept insurers from modernising, unlocking enormous value across Australasia and beyond," Ecliptic Venture Capital general partner David Burnett says.

A key strategic focus for Simfuni is enabling life insurers to migrate closed books of business onto a modern, unified operating platform. This migration delivers significant cost reductions through automation, ensures rapid compliance with evolving regulations such as CoFI and the Contracts of Insurance Act, and gives operators a 360° view of every customer and their full policy lifecycle.

By transforming outdated, siloed systems into a single customer-centric platform, Simfuni also helps insurers drive persistency and retention through better customer experiences that keep policyholders engaged and loyal.