Send & hyperexponential Partner to Launch Pricing Ecosystem
Pricing decision intelligence solution company hyperexponential has partnered with the provider of underwriting workbench capabilities, Send.
Per the deal, Send and hyperexponential aim to integrate their technologies to create a new comprehensive pricing ecosystem tailored to insurers.
This will combine hyperexponential’s hx Renew platform with Send’s workplace capabilities, creating greater synergy and interoperability between both parties.
Send & hyperexponential: Streamlining underwriting and pricing processes
This partnership not only sees Send and hyperexponential combine technologies but also combines both organisations’ deep understanding of underwriters and the specialty & commercial sector.
By joining forces, both companies aim to streamline the underwriting and pricing processes to enhance efficiency and accuracy for insurers.
Richard Gunn, Chief Revenue Officer at hyperexponential, says: “Our partnership with Send represents our ongoing commitment to offering insurers a best-in-class, deeply interconnected pricing ecosystem.
“This integration empowers underwriters to achieve greater efficiency and accuracy in their pricing decisions, ultimately driving business success for insurers.”
Andy Moss, CEO and Co-founder at Send adds: “The emerging insurance ecosystem thrives on partnerships between innovative companies, working together to provide industry-leading solutions for their customers and streamline complex, time-consuming processes.
“This partnership further enriches our award-winning Underwriting Workbench, giving customers seamless access to hyperexponential’s intelligent pricing models, without having to switch between systems or manually re-key data.
“We’ve already seen this partnership in action with several global insurance carriers and look forward to helping other insurers reap the benefits.”
Both parties claim that insurers leveraging this new solution will see faster and more accurate responses, saving valuable time on data inputting.
How hyperexponential has grown from strength-to-strength
This latest partnership struck by hyperexponential comes after it secured US$73m in a Series B funding round led by Battery Ventures earlier in 2024.
Indeed, the company has gained much traction after creating the first pricing decision intelligence solution for insurers.
Founded in 2017 by CEO Amrit Santhirasenan and Michael Johnson, the company aimed to find a scalable way to turn small, sparse, or fragmented data into new insights that drive smarter decisions.
Speaking about his company, Amrit says: “The insurance industry is at the forefront of a rapidly changing world and must find ways to understand and respond to that change in risk profile.”
“We’ve focused on building a capital-efficient, independent business that was both high-growth and sustainable from the outset. Although we have more cash-on-hand than we’ve raised, we wanted to bring on new expertise in our target markets as we continue our growth into new verticals and geographies.”
The company has also partnered with Cytora in recent times to provide commercial insurers with more streamlined and informed risk pricing capabilities while remaining a champion for digital ecosystems in the reinsurance industry.
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