This latest funding round, spearheaded by .406 Ventures, saw participation from Guidewire and existing investors, including Sandbox Industries, Osage Venture Partners, and Jump Capital.
The investment aims to enhance Indico Data’s innovative hybrid Discriminative and Generative AI platform, bolstering the company’s global presence. Additionally, Indico Data, a former Guidewire Insurtech Vanguard and current Guidewire PartnerConnect Solution partner, has announced the upcoming release of its Ready for Guidewire validated accelerator. This integration will link Indico Data’s intelligent intake solution with Guidewire PolicyCenter, addressing significant challenges underwriters face with the volume and complexity of unstructured data in broker submissions.
Tom Wilde, CEO of Indico Data, commented: “We are thrilled to announce the successful closure of our latest funding round, which includes a strategic investment from Guidewire. This investment, along with the future launch of our Guidewire accelerator, represents a significant step forward in our mission to transform the underwriting and claims processes for P&C insurers.
“The integration with Guidewire PolicyCenter will enble our customers to automate the ingestion of unstructured data, enabling them to make better decisions around what risk to underwrite. This partnership not only validates our innovative approach but also accelerates our ability to drive growth and deliver cutting-edge solutions to the insurance industry.” He added
Jay Grayson, Head of Corporate Development & New Ventures at Guidewire, said: “Guidewire is focused on identifying best-of-breed solutions to ensure our customers can solve their underwriting and claims challenges end to end with the Guidewire platform. Indico’s deep experience in developing and deploying large language model-based solutions for unstructured data, combined with their experience and expertise with P&C Insurance makes them a great fit for Guidewire’s global customer footprint.”
