Frank raises €2.9M to automate insurance agencies with AI

What's the deal? Frank, an insurtech founded by the team behind Lovys, has raised €2.9 million to bring artificial intelligence to Portuguese insurance agencies.

What's the endgame? The company is building tools to automate insurance workflows. Its focus is equipping agencies with AI to handle routine tasks.

What could go wrong? Insurance is a heavily regulated sector, and adoption among traditional agencies can be slow. Frank will need to show its automation delivers measurable savings to win over established players.

The signal: The round reflects growing investor appetite for insurtech that targets back-office efficiency rather than direct-to-consumer sales. For Portugal's insurance market, it signals a push toward AI-driven operations.

Read more: jornaleconomico.sapo.pt

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