Earnix, a fintech startup that develops artificial intelligence software that allows banks and insurers to personalise customer offerings, has raised $75 million from investors at a pre-money valuation of $1 billion. With the funding, Israel-based startup becomes a new Israeli “unicorn” — a company valued at $1 billion or more. Insight Partners led the round, with existing investors JVP, Vintage Partners, and Israel Growth Partners also participating. To better meet the needs of a rapidly changing market, the new funding will fuel Earnix’s global expansion into new market segments and regions, increase investment in product innovation, increase the number of employees, and support merger and acquisition activities. The funds raised will assist the startup in entering new markets and fine-tuning software that allows banks and insurers to offer clients personalised pricing and products.Israelbasedearnix 1bsolomon the.
According to Earnix CEO Udi Ziv, the investment “will accelerate the reach and impact” of the company’s business, “ensuring our ability to meet a broad range of industry needs, and to deliver the best personalised rates and products to every customer, every time.” Earnix’s cloud-based platform combines artificial intelligence with advanced analytics that perform modelling and simulations, allowing banking and insurance clients to provide highly personalised price and product offerings to their customers in real time. Both insurers and banks must respond to consumers who require tailored rates and products in a smarter and faster manner. To accomplish this, banks and insurance companies must automatically process massive amounts of data. Earnix was named the “Market Leader for Predictive Analytics for Property & Casualty Insurers” by New York-based data firm CB Insights in 2020, and P&C 360 named it one of the “11 Insurtechs to Watch in 2021.Earnix 1bsolomon the timesisrael.
Earnix, founded in 2001, combines innovative AI with advanced analytics to provide clients with highly personalised offers that include the right product at the right price at the right time. Earnix’s cloud-hosted offerings enable agile processes, robust automation, and strong governance that are aligned with business objectives. Earnix has offices in the United States, Europe, Asia Pacific, and Israel.
About Earnix Earnix is a global leader in mission-critical systems for insurers and banks. Customers can provide Earnix with prices and personalised products that are smarter, faster, safer, and fully aligned with corporate business goals and objectives. Earnix’s solutions provide enterprise-wide value with rapid ROI. Earnix, which has offices in the Americas, Europe, Asia Pacific, and Israel, has been innovating for insurers and banks since 2001. They have plans and it feels that they are working in a way that makes them drive to do more and put the next step forward. This does indeed tell everything one should know about Earnix and its creative touch. Hence, one can see them moving forward and keep on growing in a manner that can inspire many people around the world. Hence, it does create an aroma that is indeed very hard to beat or surpass. Hence, many people can take this as an inspiration at the very best level.
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