Aviva Ventures, the venture capital arm of British insurer Aviva, has made a strategic investment in Indico Data, a company that specializes in AI-driven automation for insurance operations. This investment is expected to support the adoption of Indico Data’s solutions by property and casualty (P&C) insurers worldwide. As part of the deal, Aviva’s chief innovation officer, Arslan Hannani, will join Indico’s Board of Directors as a board observer and advisor.
Indico Data’s Agentic AI platform helps streamline underwriting, claims, and operational processes that rely on unstructured data. The company’s technology is designed to bring AI deeper into core workflows, transforming how insurers operate. Aviva has seen firsthand the impact of Indico’s technology in streamlining operations and unlocking new efficiencies, particularly in complex markets like London.
The investment is a significant milestone for Indico Data, which has already received strategic investments from Guidewire earlier in the year. The company’s CEO, Tom Wilde, believes that the partnership with Aviva underscores the increasing demand for intelligent automation in the insurance industry. He sees Aviva’s investment as a validation of Indico’s vision for the “agentic insurance enterprise” and its mission to help carriers turn unstructured data into a competitive advantage.
Aviva Ventures focuses on investing in companies that are transforming the insurance and financial services sectors through advanced technologies and business models. The venture capital fund has made several investments in companies that are disrupting the insurance industry, and its investment in Indico Data is expected to support the company’s growth and expansion plans.
The partnership between Aviva and Indico Data is expected to have a significant impact on the insurance industry, particularly in the areas of underwriting, claims, and operational processes. With Aviva’s support, Indico Data is well-positioned to continue its growth and expansion plans, and to help insurers around the world to streamline their operations and improve their competitiveness. Overall, the investment is a significant development in the insurance technology sector and is expected to have far-reaching implications for the industry.