Simplifai, an Oslo, Norway-based company which specialises in AI automation solutions for insurance and banking, received an investment from Idékapital.
The amount of the deal was not disclosed.
The company intends to use the funds to expand operations and development efforts.
Led by CEO Bård Myrstad, Simplifai provides an AI Automation platform which is used to create a number of solutions for the insurance and banking industries, including claims intake, claims processing, underwriting, and customer interaction. Its new flagship product, InsuranceGPT, empowers insurers with end-to-end business process automation capabilities. By leveraging generative AI, InsuranceGPT facilitates enriched communication between insurers and their customers, delivering precise, and secure responses.
The company has offices in Pune, India, the Netherlands, and Ukraine.
Commenting on the news, Bård Myrstad said: “Idékapital embodies the ideal partner for Simplifai. Their wealth of experience in nurturing companies with similar trajectories positions them as invaluable partners. With Idékapital’s expertise in product market readiness and international expansion, we are poised to accelerate our growth trajectory and drive meaningful impact in the insurance and banking sectors.”
FinSMEs
07/05/2024