{"id":25289,"date":"2022-02-22T15:38:15","date_gmt":"2022-02-22T10:08:15","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-renewbuy\/"},"modified":"2022-02-22T15:38:15","modified_gmt":"2022-02-22T10:08:15","slug":"biz-renewbuy","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-renewbuy\/","title":{"rendered":"Insurtech player RenewBuy acquires Artivatic.AI for Rs 75cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1550278587\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Feb 22 (PTI) InsurTech player RenewBuy on Tuesday said it has acquired artificial intelligence-based peer company Artivatic.AI for USD 10 million (around Rs 75 crore) which will help in expanding its outreach across the entire value chain of selling insurance policies.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3610420671\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Bengaluru-based Artivatic.AI has been delivering underwriting and claim solutions to multiple life and non-life insurers, a company statement.<\/p>\n<p> The acquisition will allow RenewBuy to extend its tech solutions across the entire value chain \u2013 from sales, to underwriting and claim solutions, it said.<\/p>\n<p> With this acquisition, RenewBuy will focus on improving consumer solutions related to insurance claim settlements, risk assessments and underwriting, which still remain a challenge in the insurance category, it added.<\/p><div class=\"trade-content_5\" id=\"trade-3341598456\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The insurtech company said this acquisition is expected to open a new revenue stream for the company with a focus on delivering new age technologies to the insurance ecosystem.<\/p>\n<p> RenewBuy will take the ownership of Artivatic.AI&#8217;s SaaS solutions for insurance, IP and product portfolio. Artivatic.AI&#8217;s has 6+ patents to its name, which will substantially help RenewBuy in its policy delivery and servicing capabilities, it said.<\/p>\n<p> &#8220;We pioneered the digital agent distribution model, by putting an app in the hands of an agent. This led to a new revolution, where our POSP (Point of Sales Person) agents could do business anywhere, anytime, making the physical branch redundant,&#8221; Balachander Sekhar, CEO, RenewBuy, said.<\/p>\n<p> He said integrated solutions provided by Artivatic.AI will give the company a massive competitive edge and solve a long-standing problem for the industry.<\/p>\n<p> &#8220;RenewBuy has proven to be a leader in the digital insurance market; significantly contributing to the sector. The value chain will now be integrated with deep tech solutions. We are looking at a massive business scale up from this acquisition,&#8221; Layak Singh, Founder &#038; CEO, Artivatic.AI said.<\/p>\n<p> He said Artivatic.AI already has 400 plus APIs and many patents, which have been developed with different insurance companies.<\/p><div class=\"trade-content-10\" id=\"trade-3286288690\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;Partnering with RenewBuy will overnight give us the exposure of reaching out to 3 million (30 lakh) consumers and help deliver cutting edge product solutions.&#8221; \t Founded in 2015 by Sekhar and Indraneel Chatterjee, RenewBuy currently has about 70,000 point-of-sales person (POSP) agents and has insured more than 3 million customers across 750 cities and towns. PTI KPM  MR MR<\/p>\n<div class=\"trade-after-content\" id=\"trade-2650258424\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Feb 22 (PTI) InsurTech player RenewBuy on Tuesday said it has acquired artificial intelligence-based peer company Artivatic.AI for USD 10 million (around Rs 75 crore) which will help in expanding its outreach across the entire value chain of selling insurance policies. Bengaluru-based Artivatic.AI has been delivering underwriting and claim solutions to multiple life [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-25289","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insurtech player RenewBuy acquires Artivatic.AI for Rs 75cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-renewbuy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insurtech player RenewBuy acquires Artivatic.AI for Rs 75cr\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Feb 22 (PTI) InsurTech player RenewBuy on Tuesday said it has acquired artificial intelligence-based peer company Artivatic.AI for USD 10 million (around Rs 75 crore) which will help in expanding its outreach across the entire value chain of selling insurance policies. 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