HomeUSAIndico Data Raises $19M in Funding

Indico Data Raises $19M in Funding

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Indico Data

Indico Data, a Boston, MA-based provider of a solution for automating of critical intake workflows across the policy lifecycle, raised $19M in funding.

The round was led by .406 ventures and joined by Guidewire and existing investors Sandbox Industries, Osage Venture Partners, and Jump Capital.

The company intends to use the funds to expand operations and its development efforts.

Led by CEO Tom Wilde, Indico Data automates critical workflows for enterprises in document-intensive industries, including insurance, financial services and healthcare. Leveraging its first to market hybrid Discriminative and Generative AI technology, Indico’s Intelligent Intakeā„¢ Solution, enables organizations to free their experts from manual tasks, allowing them to drive decisions with data.

By leveraging Indico’s Intelligent Intake solution, underwriters will be able to automate data population in PolicyCenter, processing structured, semi-structured, and unstructured data with ease. This integration will ensure immediate access to vital data, allowing underwriters to expedite the quote process, enhance decision-making, and grow underwriting premiums.

In conjunction with this investment, Indico Data, a former Guidewire Insurtech Vanguard and current Guidewire PartnerConnect Solution partner, announced that itsĀ Ready for GuidewireĀ validated accelerator, an integration designed to connect Indico Data’s intelligent intake solution with Guidewire PolicyCenter, is coming soon.

Commenting on the news, Tom Wilde said: “This investment, along with the future launch of our Guidewire accelerator, represents a significant step forward in our mission to transform the underwriting and claims processes for P&C insurers. The integration with Guidewire PolicyCenter will enable our customers to automate the ingestion of unstructured data, enabling them to make better decisions around what risk to underwrite. This partnership not only validates our innovative approach but also accelerates our ability to drive growth and deliver cutting-edge solutions to the insurance industry.”

FinSMEs

06/06/2024