The funding for Alwrite has come from a number of venture capital and angel investors, such as Apurva Parekh, executive vice chairman, Pidilite Group, Viral Thakker, partner and lead: Strategy, AI and analytics, and M&A World Climate lead at Deloitte India, Amit Sheth, Sanjay Bhagat, Shrenik Shah and Sumit Bohra.
Alwrite is a B2B platform that allows insurance companies, brokers, agents, corporate agents and banks to speed up the quote placement process. This enables the firms to provide seamless insuring services and to offer the best insurance options to their corporate clients.
In addition, the insurtech offers all-in-one quote procurement and placement, underwriting and user management. This includes knowledge and risk management as well.
The idea behind Alwrite was to remove the tedious and time consuming manual methods and create more sophisticated solutions.
Alwrite has already been getting encouraging responses from insurance brokers, insurance agents, insurance corporate agents and banks that sell insurance and this has led to this funding.
Aditya Dadia, founder of Alwrite, said: “Our objective was to improve the time consuming and manual backend quote procurement process for commercial insurance line with an innovative, quick tech based solution. The commercial insurance sector is the last sector to be revolutionised by fin-tech innovations that have taken the BFSI space by storm.
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“Such a revolution has already been noticed in the retail insurance segment and has been long overdue in the commercial space. We came up with the Alwrite solution which helps in reducing the costs, turn-around times and the PI risk by digitising the entire quote procurement and placement procedure. We have plans to use the funds to further develop the product and expand the service across the country.”