©Reuters. Wenalyze raises 1.7 million for a European insurance “open data” project
Valencia, March 24 (.).- The company Wenalyze has closed a round of 1.7 million euros of financing to consolidate its presence in Spain, the United Kingdom and Germany and reach new European markets in “open data” solutions for the sector insurer.
The operation has been led by Athos Capital and has had the participation of Bankinter (MC:) through its Venture Capital program developed together with the Bankinter Innovation Foundation; astoryaVC, an investment fund focused on InsurTech; and GoHub, Global Omnium’s corporate investment fund.
Wenalyze is a digital solution that automatically obtains data from open sources, thereby improving the efficiency and accuracy of risk selection for business clients of insurers and banks.
Within the insurance industry, more than 50% of the information on these customers is incorrect or incomplete. Wenalyze corrects, updates and enriches this data with its technology and in this way insurers and banks can better estimate the risks and prices of policies.
At the same time, it brings them benefits both in terms of income -less customer turnover rate due to more competitive prices- and costs -lower due to greater efficiency-, according to a statement.
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