New Zealand-based insurance platform Javln has purchased startup Jrny for an undisclosed fee.
According to Insurance Business, Javln acquired Jrny to use the firm’s AI-driven technology to help bolster its growth and customer offering.
The Jrny platform uses AI to have conversations with customers and provides recommendations around products through the use of data insights.
Javln CEO Dale Smith remarked that the offering would be a ‘great fit’ for the company’s existing platform will support advisers, insurers and underwriters across Asia Pacific to bolster their customer experience.
He said, “Jrny have built a fantastic product, and it’ll be a great extension of what we’re already doing in the digital space. We’re pretty excited about bringing them into the fold and taking the technology that they’ve built to our customers.
“We take digital products to market by allowing customers to get a quote online, and then bind and pay for the policy, and we also have a client portal and an intermediary portal.
“JRNY’s platform is an AI-driven decision-making customer engagement platform, and it works by messaging various questions to the customer and then determining what kinds of products the potential customer might need to buy. So, the JRNY piece will fit really nicely on the front of our online product offering, and it’s a great extension of what we’re already taking to market.”
Smith mentioned that the acquisition of Jrny will aid Javln with its expansion plans as it looks to expand internationally.
Following the acquisition, Jrny founder and former CEO Michael Lovegrove will join Javln as a consultant on the technology.