Ascend, a monetary operations automation software program supplier, has teamed up with US digital insurance coverage dealer Mylo.
This collaboration goals to enhance processes, simplify workflows, and drive new enterprise for Mylo.
Ascend, an Orange Accomplice of insurance coverage software program supplier Vertafore, is concentrated on integrations that complement Vertafore’s product suite, aiming to streamline operations for AMS360 companies akin to Mylo.
Mylo, via its Thoughts of Mylo suggestion engine, connects people and enterprise homeowners with a wide selection of insurance coverage merchandise from over 100 carriers.
Its choices span enterprise, auto, dwelling, small group advantages, life, and particular person medical health insurance.
Mylo president and COO Belen Tokarski stated: “Our partnership with Ascend signifies a significant milestone in our pursuit of insurance coverage transformation via expertise. By adopting Ascend’s superior automation instruments, we’re poised to unlock enhanced operational efficiencies, streamline monetary administration processes, and ship an unparalleled buyer expertise.
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“This collaboration exemplifies our dedication to leveraging revolutionary applied sciences to drive profitability and set up Mylo as a pacesetter within the technology-driven insurance coverage panorama.”
Ascend co-founder and CEO Andrew Wynn stated: “Ascend is prioritising intentional and strategic progress via partnerships within the retail distribution channel. This collaboration goals to revolutionise the insurance coverage trade by combining Ascend’s cutting-edge monetary automation options with Mylo’s strong ecosystem of channel companions and companies.”
Including to its suite of companies, Mylo lately partnered with Safeco, a unit of Liberty Mutual, to provide pet insurance coverage protection.
This new service serves canines and cats, providing advantages akin to the selection of any veterinarian and protection for pets over eight weeks previous with out an age restrict for coverage termination.
In January 2022, Ascend raised $30m in a Sequence A fairness funding spherical and $250m in debt financing for insurance coverage premium loans.
Index Ventures led the fairness funding, with participation from new buyers akin to Distributed Ventures, HSCM Bermuda, XYZ Ventures, and a number of other angel buyers.
Present buyers First Spherical Capital, Susa Ventures, and FirstMark Capital additionally contributed to the spherical.
