Proof, an organization specialising in identification authorisation networks, has secured funding from State Farm Ventures, the company enterprise arm of State Farm and a supplier of auto and residential insurance coverage within the US.
This funding helps Proof’s efforts to mitigate identification fraud and improve operational effectivity, whereas additionally streamlining the “paper-heavy insurance coverage sector”.
State Farm Ventures vice-president Mike Remmes said: “State Farm Ventures is dedicated to investing in modern applied sciences that make digital transactions safer for our clients.
“Proof’s superior identification verification platform aligns with our mission to assist the type of innovation we wish to carry to the insurance coverage business – one which improves each safety and buyer expertise.”
In 2024, Proof exceeded $150bn in authorised transactions and recorded a 44% improve in its presence inside the true property sector, the corporate claimed.
Proof’s community affords a collection of instruments designed to make sure “high-assurance digital transactions”.
These embody Establish, a no-code instrument for identification verification and fraud prevention, and Confirm, a stay video name answer with biometric checks that gives real-time fraud safety.
Different merchandise embody Notarize, a safe digital notarisation service; Signal, an eSignature answer that ensures doc authenticity; and Defend, a fraud detection system geared toward combatting forgery and deepfakes.
The corporate claimed that its platform saves as much as 21 days and $45 per transaction, serving to companies automate processes and enabling customers to finish transactions immediately and on their very own phrases.
Proof CEO Pat Kinsel stated: “This strategic funding affirms Proof’s function in reworking how identities are verified within the digital world.
“Our platform empowers companies and people to determine belief remotely and securely, eliminating the necessity for in-person conferences or paper documentation. That is key to making a extra environment friendly, safe and accessible digital economic system.”
Final month, Proof built-in with SoftPro to reinforce identification verification and safety in digital actual property transactions.
