Checkbook acquires Sureti

Payment platform Checkbook has acquired sureti , a digital payment solution focused on streamlining insurance claim payments.

Founded in 2020, Sureti eliminates paper checks, bypasses lien holders, and reduces administrative hurdles to accelerate property claim payments. Its platform offers features such as digital multi-party endorsement, fund control, and real-time progress tracking for reconstruction projects. Additionally, Sureti underwrites double indemnity risk, ensuring secure and efficient claim payment processing for carriers and contractors.

Sureti has raised $3.25 million in funding from investors such as Verisk . Over the past two years, it reduced its workforce by 17%.

Previously, we reported that regional insurer CFM Insurance adopted Sureti’s platform to provide policyholders with a paperless and lenderless settlement experience.

Sureti is no stranger to Checkbook, having utilized its digital endorsement technology to simplify multi-party payments.

“By joining forces with sureti, Checkbook has tackled the ‘last mile’ problem in claims payment distribution, allowing large claim proceeds to reach the right hands quickly and efficiently – without requiring lien holders to slow the process. This is more than an acquisition; it’s a transformation for the insurance industry. We’re cutting large-loss cycle times, reducing administrative costs, and delivering peace of mind to all stakeholders.” – PJ Gupta, Founder of Checkbook.