RenewBuy acquires AI solutions-based insurtech start-up Artivatic.AI

RenewBuy announced the acquisition of cutting-edge, artificial intelligence-based insurtech company Artivatic.AI on 21 February. The Bengaluru-based insurtech firm has been delivering underwriting and claim solutions to multiple life and non-life insurers. The acquisition will allow RenewBuy to extend its tech solutions across the value chain, from sales to underwriting and claim solutions, according to the company.

The deep tech integration will help in providing consumer solutions, related to insurance claim settlements (which remains a challenge for the category), risk assessments and underwriting. RenewBuy will take the ownership of Artivatic.AI’s SaaS solutions for insurance, IP and product portfolio. Artivatic.AI’s 6+ patents in the fintech space will substantially enhance RenewBuy’s current policy delivery and servicing capabilities, the company said.

Balachander Sekhar, CEO, RenewBuy said, “We pioneered the…

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