Alwrite offers an all-in-one quote procurement and placement, underwriting, and user management, along with knowledge and risk management solutions
Alwrite, a next-generation tech platform empowering insurance titans and intermediaries has raised Rs 10 crore in its seed funding round from a group of venture capitalist and angel investors. The company is a B2B tech platform that enables insurance companies, brokers, agents, corporate agents, and banks to accelerate the quote placement process to provide seamless insuring services and to offer the best insurance options to their corporate clients.
Speaking about the seed fundraising, 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 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.”
The company said that the growth of the commercial insurance sector encouraged the group of angel investors to invest in the promising start-up. The investors are Apurva Parekh, executive vice chairman, Pidilite Group, Viral Thakker, partner and lead: Strategy, AI and Analytics, and M&A. World Climate lead at Deloitte India, Amit Sheth, Sanjay Bhagat, Shrenik Shah, and Sumit Bohra.
Alwrite has been getting encouraging responses from insurance brokers, insurance agents, insurance corporate agents, and banks that sell insurance including major insurance companies. The platform has already partnered and is in talks with a number of leading banks and insurance organisations to ensure a quick, easy, cost-effective, and hassle-free insurance processing experience for their corporate customers, a statement issued by the company read.