Utilant, a market leader in loss control inspection and survey management software for underwriting and risk management for P&C insurers, announced that Aquiline Technology Growth (ATG) has made a significant Series A investment in the company.
Founded in 2005, Utilant has become a leading provider of technology to the insurance industry through its LossControl360 SaaS solution. Utilant’s mission is to create technology solutions that make the risk management and underwriting processes more efficient. Utilant’s LossControl360 platform is designed to make the insurance risk management process more streamlined and accurate to help underwriters make better policy decisions.
This investment round will fuel Utilant’s global expansion and further strengthen its LossControl360 platform to leverage artificial intelligence and data analytics.
“The business landscape is evolving for insurance carriers striving for leadership in a competitive environment that requires precision and is driving the use of transformative technologies. The Utilant team is creating the technology to ensure that carriers capture the risk of underwriting in the most accurate and scalable way possible,” said Patrick Davis, founder and CEO of Utilant. “We partner with our P&C carrier customers to ensure that the LossControl360 SaaS platform is advancing their goals. ATG, given their insurance and operational expertise, is the perfect partner to help capture this opportunity and drive further growth.”
ATG’s investment comes during an exciting time in the marketplace and supports the opportunity for Utilant to further its leadership with P&C carriers and inspection services vendors. ATG is managed by Aquiline Capital Partners and is the firm’s dedicated early and growth stage fund, investing in technology companies that are bringing innovation to the insurance and financial services ecosystems.
“Utilant has emerged as a leader in the loss control solutions market and is poised for growth given the company’s established domain expertise and flexibility of its solution, and the ever-increasing demand for advanced technologies and automation,” stated Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline Capital Partners.
“We are excited to work with the management team of Utilant to help further its market leadership and respond to the growing global demand for a scalable solution through a unified technology platform that manages underwriter and policyholder customer interactions,” said Michael Cichowski of ATG. As part of the investment, Mr. Cichowski will join the Utilant board of directors.
Source: Company Press Release