Azentio Software, an end-to-end software company specializing in the Banking, Financial Services, and Insurance (BFSI) sector, announced the acquisition of software assets and intellectual property (IP) of two Kuwait-based companies, iMOTOR and Pysurance. This acquisition aims to modernize Azentio’s insurance software offering by integrating advanced AI and machine learning capabilities. McKinsey predicts that claims processing automation will reach 50% by 2030, making the inclusion of iMOTOR’s claims automation module timely, helping insurers streamline claims workflows and realize efficiency gains. Additionally, Pysurance’s cloud-native SaaS platform will aid the transition from legacy systems to next-gen insurance software, enhancing decision-making, productivity, and cost-efficiency. Sanjay Singh, CEO of Azentio, emphasized the transformative potential of this acquisition in revolutionizing insurance technology. Co-founders of Pysurance and iMOTOR expressed optimism about the synergies with Azentio’s established market presence and deep domain expertise. Azentio, founded in 2020 in Singapore and wholly owned by funds advised by Apax Partners, has over 800 customers in more than 60 countries.
Financial Services, Technology,Singapore, Kuwait
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