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 complete 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 improvement efforts.
The insurtech firm will even use the cash to speed up the event of contemporary and linked producer administration and compliance options.
These options present enhanced distribution channel flexibility for carriers, businesses and MGAs.
Craft Ventures companion Brian Murray mentioned: “AgentSync has turn into a core infrastructure for a whole lot of insurance coverage firms, serving to them scale distribution and cut back prices.
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“We’re excited to deepen our partnership with the AgentSync group as they proceed to improve the resilience and effectivity of the insurance coverage trade.”
AgentSync is engaged in offering trendy insurance coverage infrastructure to attach carriers, businesses, MGAs and producers.
The corporate’s options are designed to offer information intelligence and streamlined onboarding and compliance administration processes to assist improve effectivity, minimize prices and get producers able to promote in hours as a substitute of weeks.
AgentSync co-founder and CEO Niji Sabharwal mentioned: “With AgentSync, clients have the flexibleness to shortly and intelligently ramp distribution channels up or down as wanted. This drives huge distribution channel-related value financial savings when effectively executed by software program.”
AgentSync board member and Guidewire insurance coverage software program CEO Mike Rosenbaum mentioned: “This infusion of capital ensures they’ve the platform and assist wanted to maneuver upmarket to bigger and extra complicated provider necessities and proceed to cost forward fixing the extraordinarily complicated issues plaguing the insurance coverage trade as we speak.”
