KFin Technologies, a General Atlantic-backed and one of India’s largest registrars announced its investment in InsurTech startup, Artivatic.ai. They have bought 17% stake in Artivatic on a path to majority.
This partnership will help KFintech venture into the Insurtech space as the firm looks to diversify beyond offering Registry services to Mutual Funds, Corporate, Pensions amongst other asset classes.
Artivatic.ai will utilise the funding to broaden the product portfolio, explore new business horizons and expand its footprint across India and other global markets with the help of KFin.
Artivatic provides risk-based personalized automated solutions catering to the underwriting, claims, risk & fraud intelligence, embedded distribution, new-age product design, sales intelligence, and more to ease insurance operations benefiting both the insurers and customers.
KFin Technologies has transformed its business model through automation and created an ecosystem of comprehensive automated services catering to the ecosystem partners across all financial asset classes. These services range from investor servicing, distribution network, reporting, compliance and documentation.
"We are very excited about the InsurTech platform that Artivatic.ai has built and grown - a force to reckon with in a short period of time. Access to capital aside, KFin will contribute to Artivatic.ai with access to clientele, geographic expansion, thought leadership and technology & process frameworks," said Sreekanth Nadella, Chief Executive Officer of KFin Technologies.
Layak Singh, Co-Founder, Artivatic.ai, said that through the partnership with KFintech and General Atlantic, Artivatic will leverage domain expertise, network, and financial support to become one of the preferred solutions providers for insurance and scale faster in India and the South East Asia region.
"This partnership will allow Artivatic focus majority in growth, scale, expanding to various geographies, through the backing of KFintech," he remarked.
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