Insurance analytics software Percayso Inform has raised £2.7m from ex-Hastings chairman Neil Utley and venture capital firm Praetura Ventures.
Percayso Inform counts Direct Line and The AA amongst its customers, who use it to run insurance-related tasks including providing quotes, point of sale, contract changes, claims and renewals. It also offers insurance analytics and comparisons.
Rich Tomlinson, managing director of Percayso Inform, said: “As we look ahead, we believe that Percayso Inform will play a key role in helping insurance providers of all shapes and sizes to get more out of the wealth of data available to enable them to write better business.”
During his time at Hastings, Utley spearheaded the Insurance Australia Group management buyout in 2009 to its later public listing in 2015.
“Rich and his team are building one of the most exciting businesses to have emerged in our industry in many years,” said Utley.
“UK insurance providers have been crying out for a flexible, scalable and easy-to-integrate data intelligence solution.”
Manchester’s Praetura Ventures first got involved with the insurtech when it led a £3.4m round into the company last year.