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InsuranceDekho Set to Raise Up to $100M in Funding with MUFG Bank and C. Development at the Helm
InsuranceDekho, an InsurTech platform for comparing and purchasing insurance products, has announced a funding round aiming to raise up to $100 million, enhancing its market position. Led by MUFG Bank, along with Beams Fintech Fund and C Investments, this investment elevates its valuation to $750-800 million. The platform offers various insurance products, including motor, health, travel, and pet insurance, along with investment plans like ULIPs and retirement schemes. With integration from nearly 50 insurance providers, customers enjoy a seamless experience. This funding follows a successful $60 million Series B round raised 15 months ago.
HawkSoft and Sembley Join Forces to Streamline Insurance Submissions for Independent Agencies
HawkSoft, a leading agency management system provider for independent insurance agencies, has partnered with Sembley to improve the insurance submission process. This collaboration aims to reduce redundant data entry, enhance ACORD form accuracy, and allow agencies to focus more on client service. By integrating HawkSoft’s management system with Sembley’s automation platform, agencies can automatically pre-fill ACORD forms, improving submission quality and streamlining workflows. The partnership reflects a growing trend in the InsurTech market towards interconnected, efficient solutions. Both companies believe this integration will significantly benefit independent agencies by simplifying operations and enhancing client interactions.
Experian Teams Up with Root Insurance to Offer Personalized Auto Coverage in Digital Marketplace
Experian has formed a strategic partnership with Root Insurance to enhance the auto insurance purchasing experience for consumers. By integrating Root’s services into Experian’s digital marketplace, users can easily compare and purchase auto insurance without leaving the site. This collaboration allows Experian to expand its insurance offerings while providing Root Insurance access to a larger audience. Both companies will engage in joint marketing efforts to improve accessibility to financial products. Executives from both organizations expressed enthusiasm about leveraging data and technology to empower consumers and deliver competitive rates in the auto insurance sector.
Revolutionizing Pet Insurance Payments: Policy Expert Partners with GoCardless for Seamless Transactions
UK-based insurer Policy Expert has partnered with GoCardless to enhance customer experience by simplifying pet insurance payments through Direct Debit. This collaboration caters to the demand for flexible billing options, allowing customers to manage monthly premiums effortlessly. The integration will support immediate payment collection in anticipation of upcoming regulations, improving cash flow and reducing payment clearance times. Leadership from both companies expressed excitement about the partnership’s potential to elevate customer experience in the insurance industry. This move positions Policy Expert competitively by offering innovative payment solutions, setting a benchmark in the evolving pet insurance market.
Unlocking Cost Savings: CLARA and Guidewire Harness Predictive AI Insights to Transform Insurance Claims
CLARA Analytics has partnered with Guidewire to enhance insurance claims processing using artificial intelligence (AI). This collaboration aims to reduce claim costs and improve operational efficiency by integrating AI insights into Guidewire’s claims workflow. Insurers using Guidewire ClaimCenter can access tools like Triage and Treatment alerts, reserve accuracy data, and litigation risk assessments, enabling more informed decision-making. The integration has already shown significant results, with clients reporting millions in savings. CLARA CEO Heather H. Wilson highlighted the transformative potential of AI in core insurance systems, emphasizing the collaboration’s benefits for customers in optimizing claims operations.