UditMetaMorphoSys Technologies, a Saas based digital insurance platform, has now secured in the pre-series A funding round led by Google Capital.
The round also saw participation from some of the HNI.
The funding will be used to further innovate the platform across the entire insurance value chain. It also plans to use the funds for product development and investing in sales teams to grow its footprint in India, Indonesia, Thailand, Hong Kong, and Singapore.
“Our product team keeps track of the latest technological developments and constantly innovates and translates business requirements into revolutionary products,” said Amit Naik, Co-Founder, and CEO, MetaMorphoSys Technologies.
Rohan Malhotra, Partner at Good Capital, said: “Technology has disrupted every aspect of the insurance value chain. The two biggest threats to traditional insurers are not able to meet the expectations of digital natives and compete with new-age digital insurance companies, who do not carry the burden of legacy policy admin platforms. Insurers have realized that startups like MetaMorphoSys can help them compete with new-age insurance companies and leverage the huge investments already made in existing legacy platforms.”