Oslo, Norway – 07/05/2024 – Simplifai, a pioneering force in AI Automation Solutions for insurance and banking, proudly announces the completion of its latest investment round, securing a significant investment. The investment round was led by Idékapital, the Norwegian investor funding and supporting high-growth B2B software and technology scale-ups with global potential.  

This significant infusion of capital comes on the heels of Simplifai’s innovative advancements in the insurance industry, particularly through its new flagship product, InsuranceGPT. InsuranceGPT represents the industry’s first insurance-specific generative AI technology, empowering insurers with unparalleled end-to-end business process automation capabilities.

By harnessing the power of generative AI, InsuranceGPT facilitates enriched communication between insurers and their customers, delivering swift, precise, and secure responses. 

“We are thrilled to support Simplifai on its journey of innovation and expansion,” remarked Krisztina Horvath, Principal at Idékapital. “Simplifai’s commitment to delivering significant value for their customers and their visionary approach to leveraging AI align seamlessly with our investment strategy. They have built a strong foundation and we are eager to contribute to their continued success globally.” 

Bård Myrstad, Simplifai CEO, expressed enthusiasm about the partnership, stating, “Idékapital embodies the ideal partner for Simplifai. Their wealth of experience in nurturing companies with similar trajectories positions them as invaluable partners. With Idékapital’s expertise in product market readiness and international expansion, we are poised to accelerate our growth trajectory and drive meaningful impact in the insurance and banking sectors.” 

Simplifai has previously unveiled its Claims Processing solution, built on the foundation of InsuranceGPT’s cutting-edge technology. For more information on this development, click here.