Ensuredit, a Gurugram, India-based InsurTech Startup that enables and empowers end customers and Insurance Intermediaries with AI-based product platforms for transformational customer experience, raised $4.2 million in pre-Series A funding.
The round was led by Cover Genius, with participation from other investors including 9Unicorns, NexStep Discovery Pte, CP Ventures, Venture Catalysts & IPV.
The company plans to use the funds to grow the product offering and expand the technology team. It will deploy more context-relevant Artificial Intelligence (AI)/Machine Learning (ML) and computer vision-based products that will simplify the customer journey, as well as optimize onboarding to sales teams and customers, provide in-depth business analytics, and prevent leakage in financial reconciliation.
Company: Ensuredit Technologies Private Limited.
Round: pre-Series A
Funding Month: July 2022
Lead Investors: Cover Genius
Additional Investors: 9Unicorns, NexStep Discovery Pte, CP Ventures, Venture Catalysts & IPV
Company Website: https://ensuredit.com/
Software Category: Insurance
About the Company: Founded in 2019 by Amit Boni, Rohit Sadhu, and Vikas Ranga, It is a Platform as a Service (PaaS) model that facilitates brokers, corporate agents, insurance marketing firms, and insurers to enhance their revenue generation. The company’s offerings include digital onboarding, an end-to-end sales suite, various payment mechanisms, policy issuance, and post-sales management. The firm offers a range of insurance policies on its platform including general insurance, life insurance, and commercial or SME insurance. ENSUREDIT enables and empowers end customers and Insurance Intermediaries with AI-based product platforms for transformational customer experience.