Alwrite, a business-to-business insurtech startup, secured INR 10 Cr from a number of angel investors and a venture capital (VC) firm as part of its seed financing round.
Some of the angel investors who took part in the funding round were Apurva Parekh of Pidilite Group, Viral Thakker of Deloitte India, Amit Sheth, Sanjay Bhagat, Shrenik Shah, and Sumit Bohra.
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The company that is just getting started has stated that it intends to put the funds to use by speeding up the creation of products and broadening its presence across the country.
Speaking about the seed fund raising, Mr. Aditya Dadia, Founder, Alwrite said, “Our objective was to improve the time consuming and manual backend quote procurement process for commercial insurance line with an innovative, quick tech based solution. The commercial insurance sector is the last sector to be revolutionised by fin-tech innovations that have taken the BFSI space by storm. Such a revolution has already been noticed in the retail insurance segment and has been long overdue in the commercial space. We came up with the Alwrite solution which helps in reducing the costs, turn-around times and the PI risk by digitising the entire quote procurement and placement procedure. We have plans to use the funds to further develop the product and expand the service across the country.”
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For the purpose of streamlining the procedure and boosting the uptake of insurance, Alwrite provides an all-in-one quote purchasing and placement, underwriting, administration of users, expertise and risk administration solutions.
About Alwrite
Alwrite is a B2B insurtech startup that offers insurance companies and insurance intermediaries for commercial lines of insurance all-in-one quote procurement and placement, underwriting and user management, knowledge and risk management solutions.
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