Guidewire backs Indico Data

Indico Data has raised $19 million with backing from Guidewire , bringing its total funding to $49 million, including past investments from Nationwide Ventures.

Founded in 2013, Indico’s Intelligent Intake solution automates document-based workflows for unstructured content. Indico is also planning a new integration for Guidewire PolicyCenter. This will streamline the process for underwriters by connecting Indico Data’s intelligent intake solution with PolicyCenter, addressing the challenges of managing unstructured data in broker submissions.

The startup lost 7% of its workforce last year.

“We are thrilled to announce the successful closure of our latest funding round, which includes a strategic investment from Guidewire. This investment, along with the future launch of our Guidewire accelerator, represents a significant step forward in our mission to transform the underwriting and claims processes for P&C insurers. The integration with Guidewire PolicyCenter will enable our customers to automate the ingestion of unstructured data, enabling them to make better decisions around what risk to underwrite. This partnership not only validates our innovative approach but also accelerates our ability to drive growth and deliver cutting-edge solutions to the insurance industry.”- Tom Wilde, CEO of Indico Data.

“Guidewire is focused on identifying best-of-breed solutions to ensure our customers can solve their underwriting and claims challenges end to end with the Guidewire platform. Indico’s deep experience in developing and deploying large language model-based solutions for unstructured data, combined with their experience and expertise with P&C Insurance makes them a great fit for Guidewire’s global customer footprint.” – Jay Grayson, Head of Corporate Development & New Ventures at Guidewire.