Utilant, a company offering loss control inspection and survey management software for underwriting and risk management, has closed a â€˜significantâ€™ Series A investment Aquiline Technology Growth.
These funds will be used to support Utilantâ€™s global expansion and further the development of its LossControl360 solution.
Founded in 2015, the company offers risk management and loss control software to P&C insurance carriers across North America.
Its LossControl360 service was designed to help insurance risk management more streamlined and ensure underwrites can make better policy decisions. Its automated technology enables the platform to collect information, analyse it and mitigate risks.
Utilant founder and CEO Patrick Davis said, â€œThe 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.
â€œWe 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.â€
Last year, Aquiline made an undisclosed investment into Aspirion Health Resources. The startups delivers revenue cycle management technology to hospitals in order to aid their claims, hospital billing, and reimbursement processes.
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