Charles Taylor InsureTech has purchased a majority stake in RegTech startup CoVi Analytics.
Through the deal, Charles Taylor is expanding into the insurance governance, risk and compliance management technology market. CoVi has developed a software platform that leverages Artificial Intelligence (AI) and innovative tools to helps analyse, simplify and automate risk and compliance management for insurers and brokers.
Jason Sahota, CEO of Charles Taylor InsureTech said: “CoVi Analytics’ innovative solutions will help our clients meet these increasing compliance demands proactively and cost-effectively based on the latest technologies.
“Working together we will be able to further develop CoVi’s solutions so that they continue to meet insurers’ and brokers’ evolving, complex risk and compliance needs. I am pleased to welcome Waleed Sarwar and his team to the Charles Taylor InsureTech team and look forward to working closely with them and seeing the evolution of the platform.”
Founded in 2016, CoVi’s platform enables insurance organisations to analyse, monitor and report on compliance and risk from a single platform.
It aims to reduce manual intervention and improve the speed and accuracy of compliance processes by embedding them in to the core business processes.
Waleed Sarwar, CEO of Covi, added: “ With its global footprint and a great reputation in the insurance market coupled with CoVi’s unique approach to simplifying risk and compliance for business teams, CoVi Analytics will now be able to accelerate its product roadmap and simplify compliance for financial institutions globally.”
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