Innovative insurtech firm Alwrite, which specialises in commercial insurance, has raised Rs 10 crore in its most recent seed funding round. A group of venture capitalists and angel investors willing to support Alwrite's objective contributed the financing. By expediting and automating the quote-placement process, the insurtech platform is intended to provide financial institutions, intermediaries, and major insurance companies more influence. They are able to provide seamless insurance services and enhance their offers for their corporate clients as a result.

A B2B tech platform called Alwrite attempts to close the gap between banks, brokers, agents, and corporate intermediaries by offering a comprehensive solution. This comprises tools for user management, information management, and risk management, all of which contribute to streamlining the insurance process and increasing insurance penetration.

Alwrite was created to replace the labor-intensive, manual procedures with more advanced, automated ones after realising the shortcomings of the quote acquisition and placing process in the commercial insurance segment.

The commercial insurance sector in India's insurance industry has seen substantial improvements in operational capabilities, although it still mainly depends on manual procedures. Obtaining a single policy for a business entity requires, on average, 30 efforts from intermediaries and insurance providers. Quote placement, the process before policy issuance, is frequently done using spreadsheets and emails. This time-consuming manual process, which can take up to 21 days and add errors, a high risk of professional indemnity, and hefty expenditures. These issues are addressed by Alwrite's ground-breaking platform, which digitises the entire quotation procurement and placement process, greatly increasing efficiency and cutting expenses.