Azentio boosts insurance tech offering with key acquisitions

By Gloria Mathias

Azentio Software, an end-to-end software company, has announced the completion of the acquisition of software assets and intellectual property (IP) of iMOTOR and Pysurance from 2 Kuwait-based software product companies.

With iMOTOR, a powerful claims automation module, Azentio aims to expand its insurance offering by helping insurers to automate and streamline their claims workflows, realising both operational efficiency improvements and material cost savings.

This acquisition will add significant value to Azentio’s expanded client base. It will help insurers automate and streamline claims workflows, enhancing customer experience, productivity, and efficiency and accuracy.

Through the acquisition of IP and tech from Pysurance, a cloud-native and SaaS-based platform built specifically for the insurance industry, Azentio will create the future of insurance software, facilitating insurers’ evolution from legacy systems to a next-gen, AI- and machine-ready platform.

Sanjay Singh, CEO of Azentio, said, “Azentio is extremely excited to play our part in re-writing the future of insurance software, combining our deep domain knowledge with the latest, most innovative technology platforms. The advanced AI and machine learning capabilities we will build upon following this IP and asset acquisition will see us bringing the next generation of software to our insurance customers. The enhanced technical depth and future-proof build opportunities this brings to our products will help bring our vision to life by revolutionising the way insurers consume and innovate through software.”

Co-founder and CTO of Pythys, Taher Alkhateeb, shared, “We are thrilled to find a new home for our software systems at Azentio. This acquisition represents the perfect mix of modern software technology stacks combined with deep domain expertise in the insurance industry. We strongly believe this combination will help us push the boundaries of what technology can achieve in this space.”

Ali Abbas, Co-Founder and CEO of iMOTOR, stated, “Joining Azentio is an important step for us. We believe that Azentio’s established experience in the insurance technology industry aligns perfectly with our vision and that together, we are even stronger. By integrating our modern technologies, we will not only enhance efficiency and excel through customer experience but also truly transform the technology landscape in the insurance industry.”