Berkshire Hathaway Subsidiary Partners With Insurance Startup Planck

Berkshire Hathaway Guard Insurance Companies, a subsidiary of Warren Buffet’s Berkshire Hathaway Inc., has partnered with Tel Aviv-based commercial insurance startup Planck Resolution Ltd. As part of the partnership, announced Thursday by Planck, the two companies will work together to develop a full digital underwriting offering for their commercial lines.

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Founded in 2016, Planck develops software that enables insurance companies to use publicly available data, image processing, and company reports to analyze and perform risk assessments of businesses and create customized insurance policies. The company closed a $12 million round in July.

Founded in 1982, Guard Insurance was acquired by National Indemnity Company Inc., a subsidiary of New York-listed Berkshire Hathaway, for $218 million in 2012.