Insurance marketplace RenewBuy acquires fintech startup Artivatic AI
Gurgaon-based insurance technology company RenewBuy has acquired Bengaluru-based fintech startup Artivatic. AI in a combination of share-swap deals and cash. The deal was finalised in the first week of February. RenewBuy is a platform for comparing and purchasing motor and health insurance. The firm will now take over Artivatic.AI’s SaaS services for insurance; IP; and product portfolio. Last year, RenewBuy raised USD 45 million from Apis Partners LLP of the UK, Lok Capital and IIFL Asset Management in Series C. The company is using the capital to strengthen its technology solutions. Artivatic. AI leverages artificial intelligence and machine learning to offer underwriting and claim solutions in finance, healthcare and insurance sectors. Artivactic.AI CEO Layak Singh said the acquisition will give the company exposure to 3 million consumers and help deliver cutting edge product solutions.
Artivatic. AI leverages artificial to offer underwriting and claim solutions in finance, healthcare and insurance sectors.
Artivatic. AI leverages artificial to offer underwriting and claim solutions in finance, healthcare and insurance sectors.
["Gen AI in Insurance", "insurtech", "Mergers and Acquisitions"]
["API", "artificial intelligence", "machine learning", "programming_languages:R", "AI", "insurtech", "RAG", "Aim", "Gen AI in Insurance", "Mergers and Acquisitions", "R", "startup"]
["AI", "artificial intelligence", "machine learning", "Aim", "RAG", "R", "API", "startup", "programming_languages:R"]
Poulomi is a Technology Journalist with Analytics India Magazine. Her fascination with tech and eagerness to dive into new areas led her to the dynamic world of AI and data analytics.