MetaMorphoSys, a SaaS-based digital insurance platform, announced it has raised pre-Series A funding led by early-stage venture capital firm Good Capital.
Other investors that participated in the round include Trifecta Capital managing partner Rahul Khanna, MetaMorphoSys said in a statement. However, it did not disclose the amount it raised.
The Pune-based company will use the funds to enhance its product development roadmap for the entire insurance value chain, from customer acquisition and engagement to product configurators and underwriting.
“Our product team keeps track of the latest technological developments and constantly innovates and translates business requirements,” Amit Naik, co-Founder of MetaMorphoSys said.
Separately, Good Capital partner Rohan Malhotra said the firm was confident of its commitment to the insure-tech startup because of the need for technologically-oriented services by traditional players in the larger insurance segment.
“MetaMorphoSys is solving a unique problem set in the insurance industry and its product stack allows for legacy insurance businesses to plug into critical products that take time, effort and capital to build,” Khanna added.
MetaMorphoSys was founded in 2016 by Amit Naik and Kewal Vargante. The company says it operates on a software-as-a-service model and seeks to address the business and technology-based challenges facing the global insurance industry.
MetaMorphoSys is an end-to-end platform that takes care of the entire value chain, from customer acquisition to engagement, and provides a suite of products, including an underwriting engine, claims engine, customer engagement platform, AI/ML sales analytics engine, and others.
MetaMorphoSys’ platform helps in improving metrics for companies such as agent sales effectiveness, turnaround time reduction, reduction in business acquisition and profile-based targeted products.
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