US-based insurance-software start-up AgentSync has raised $50m in financing to assist drive operational efficiencies for insurers and distributors.
The spherical, which brings the insurtech firm’s whole financing to $161m, was co-led by current buyers Valor Ventures and Craft Ventures.
AgentSync, which works with greater than 200 insurance coverage firms, together with carriers, managing normal brokers (MGAs) and businesses, plans to make use of the proceeds to fund its growth efforts.
The insurtech firm will even use the cash to speed up the event of contemporary and related producer administration and compliance options.
These options present enhanced distribution channel flexibility for carriers, businesses and MGAs.
Craft Ventures companion Brian Murray stated: “AgentSync has change into a core infrastructure for a whole lot of insurance coverage firms, serving to them scale distribution and scale back prices.
Entry essentially the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Achieve aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain electronic mail will arrive shortly
We’re assured in regards to the
distinctive
high quality of our Firm Profiles. Nevertheless, we wish you to take advantage of
helpful
choice for your online business, so we provide a free pattern that you may obtain by
submitting the under kind
By GlobalData
“We’re excited to deepen our partnership with the AgentSync crew as they proceed to improve the resilience and effectivity of the insurance coverage business.”
AgentSync is engaged in offering trendy insurance coverage infrastructure to attach carriers, businesses, MGAs and producers.
The corporate’s options are designed to supply knowledge intelligence and streamlined onboarding and compliance administration processes to assist improve effectivity, lower prices and get producers able to promote in hours as a substitute of weeks.
AgentSync co-founder and CEO Niji Sabharwal stated: “With AgentSync, prospects have the flexibleness to shortly and intelligently ramp distribution channels up or down as wanted. This drives huge distribution channel-related price financial savings when effectively executed by way of software program.”
AgentSync board member and Guidewire insurance coverage software program CEO Mike Rosenbaum stated: “This infusion of capital ensures they’ve the platform and assist wanted to maneuver upmarket to bigger and extra complicated service necessities and proceed to cost forward fixing the extraordinarily complicated issues plaguing the insurance coverage business at the moment.”
