KFintech acquires 17 pc stake in insurtech startup Artivatic.ai
This partnership will help KFintech venture into the insurtech space as the firm looks to diversify beyond offering registry services to Mutual Funds, corporates, pensions among other asset classes.
KFin Technologies, a General Atlantic-backed registrar and transfer agency and a market leader in the financial sector providing investor servicing, has announced that it has bought 17 percent stake for an undisclosed amount in insurtech startup, Artivatic.ai.
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 among 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 KFintech.
Layak Singh, Co-founder, , said,
“This investment will help Artivatic focus on building and strengthening new-age solutions in insurance and healthcare services to provide unified, risk-based, personalized technologies enabling end to end digital adoption. Through the partnership with KFintech and General Atlantic, Artivatic will focus majority in growth, scale, and expanding to various geographies.”
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Founded by Puneet Tandon and Layak Singh in late 2017, Artivatic provides risk-based personalised automated solutions catering to the underwriting, claims, risk and fraud intelligence, embedded distribution, new-age product design, sales intelligence, and more to ease insurance operations benefitting 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. The synergies from these two firms will help in creating an equally comprehensive and scalable insurtech business.
“Expanding our portfolio of services into insurance has been in the works, and our investment into Artivatic.ai is the first step in that direction. We enormously value the techpreneur community and the value they add to the industry. 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,” added Sreekanth Nadella, CEO of KFin Technologies.
KFintech, a multi-faceted company, serves corporates, mutual funds, venture funds, private equity, National Pension System, wealth managers, and Exchange Traded Funds through its extensive network of branches, both domestically and globally. The comprehensive bouquet of services include Registrar and Transfer Agency, issuing, investor relations, recordkeeping, and advisory. Its operations are spread over 180 branches in India and two countries globally, i.e., Malaysia and Bahrain.
Edited by Kanishk Singh
