UK-based insurance technology and services provider Azur has closed a £13.3m ($17m) series B round co-led by insurers AIG, Hyperion Insurance Group and Ascot Group, Insurance Age has reported.
Angel investor Richard Little co-led the round with the corporates. Ascot Group is owned by government-sponsored investment management firm Canada Pension Plan Investment Board.
Azur Underwriting operates as a ‘managing digital agent’ that provides products aimed at the high-net-worth insurance segment to help digitalise and improve the portfolios of insurers, brokers and clients.
The company’s offering includes insurance policies sourced from AIG and a professional development service called Broker iQ. It was founded in 2016 as a joint venture between AIG and Ascot.