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Over-C gets $1.2m investment for risk innovation
Over-C Limited, a leading property management software platform, has secured £1 million (about $1.2 million) in equity investment from Ayre Ventures. As part of the agreement, Ayre Ventures managing director Paul Rajchgod also joins the Over-C board.
Over-C is at the forefront of risk management technology, with its adoption of blockchain technology, which solves challenges related to scalability, single points of failure, time stamping, privacy, trust, and reliability.
Michael Elliott, founder and chief executive of Over-C, said their use of BSV blockchain technology would benefit the insurance industry, enabling insurers to automate the entire “first notification of loss” interaction directly from an incident location via a two-way, automated conversation secured by blockchain.
In addition, Over-C would create a trusted, tamper-proof, industry-wide record to defend potential claims, while reducing fraud by eliminating data silos and paper processes.
Ayre Ventures founder, Calvin Ayre, expressed his excitement at supporting Over-C, saying, “From day one of my blockchain journey, my focus has been on utility and Bitcoin SV is the only protocol that puts utility first.
“Over-C epitomises the type of utility-focused company that will benefit from exploring BSV’s unmatched capacity for immutable data storage. I’m thrilled to support Michael’s team and I look forward to them showing the world that BSV can serve as a reliable source of both trust and truth.”
Over-C provides a digital platform to high-footfall, high-risk venues that reduce costs for operators and losses for insurers, giving them full transparency, confidence, and control of frontline activities. Their intelligent platform enables real-time decision making in the areas of risk management, compliance, and the customer experience.
Over-C’s partners include Hitachi, ScotRail, Eli Lilly, Savills, Munster Rugby, and Belfast Airport.
The partnership between Over-C and Ayre Ventures is expected to bring about significant progress in the field of risk management, as well as improving the efficiency and transparency of insurance claims processing. The investment by Ayre Ventures represents a strong vote of confidence in Over-C’s technology and its potential to make a positive impact in the industry.