PriyaPatel
TLDR:
- Azentio Software has acquired intellectual property and assets of Pysurance and iMOTOR from Kuwait-based companies.
- The acquisition will help Azentio lead insurance technology modernization with cutting-edge AI and machine learning capabilities.
Market-leading software provider Azentio has completed the acquisition of software assets and intellectual property of iMOTOR and Pysurance from Kuwait-based companies. This acquisition will allow Azentio to revolutionize the future of insurance software by building the next generation of insurance software on an innovative technology stack with advanced AI and machine learning features.
With the prediction that 50% of claims processing will be automated by 2030, Azentio aims to enhance its insurance offering through the powerful claims automation module provided by iMOTOR. This acquisition will add significant value to Azentio’s client-base by automating and streamlining claims workflows, leading to improved efficiency and accuracy.
The acquisition of IP and technology from Pysurance will help Azentio transition from legacy systems to next-generation insurance software. This cutting-edge cloud native and SaaS platform, specifically built for the insurance industry, will enable insurers to make smarter business decisions, improve productivity, and embrace the latest innovations in technology.
CEO of Azentio, Sanjay Singh, expressed excitement about re-writing the future of insurance software through this acquisition. Co-Founders of Pythys and iMOTOR also shared their enthusiasm about the partnership and the potential for innovation in the insurance industry.
