Insurtech startup MetaMorphoSys raises seed round

Insurtech startup MetaMorphoSys has secured $3 million (Rs 23 crore) in a seed round led by Capital2B along with participation from angel investors like Pavitar Singh and Dhruv Dhanraj Behl.

The company had previously raised funding from Good Capital VC and Trifecta Capital.

According to MetaMorphoSys, the capital will be utilised to further innovate its SaaS-based digital insurance platform, expand the product and sales team to other geographies and invest in out-of-box legacy integrations.

Founded by Amit Naik and Kewal Vargante in 2016, MetaMorphoSys’ digital insurance platform is a SaaS-based low code platform that completely disrupts the way insurance products can be distributed, embedded, and serviced. The platform has pre-configured benefits, coverages, rules, and vocabularies to ensure that insurance companies can launch innovative products across motor, travel, property, life and health lines of businesses.

MetaMorphoSys middleware platform integrates with legacy systems of insurers and the ready APIs ensure digital customer journey can be accelerated for onboarding, servicing, and processing claims. MetaMorphoSys claims that global insurance companies are using this platform to quickly launch new insurance products and improve time to market.