Quotech, an enabler for specialty insurers, brokers and MGAs – and the only non-Swiss insurtech to be included in this month’s deal flows – has raised £1 million from an array of angel investors and Convex Group which has acquired a 7.7% stake in the business. Quotech Chief Executive and former Lloyd’s underwriter Guillaume Bonnissent said: “This funding will enable Quotech to move to the next level of success by increasing our reach and extending our capacity, allowing us to provide a larger number of underwriting and broking firms with truly useful technology. Convex Group CEO Paul Brand said: “We were drawn to Quotech as a supplier because they understand what we, as a London-market underwriter, need technology to do for us. We’ve made a strategic investment in the company because we believe Quotech is on the path to success. There are plenty of insurTech investments out there, but very few tech companies provide the kind of truly useful systems that Quotech has built for us.”

Source: Insurance Edge

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