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Investing.com -- Roadzen Inc. (NASDAQ:RDZN) stock surged 15% Tuesday after the AI-powered insurance technology company announced it had secured a Managing General Agent (MGA) deal with one of the world’s five largest automakers.
The partnership, valued at over $20 million in annual gross written premiums, will see Roadzen manage the automaker’s insurance program in a major European market. The company will handle administration, claims, and payments, generating fees expected to contribute more than 15% of gross written premiums as recurring revenue.
Roadzen was selected following what it described as an "extensive evaluation process" that tested its AI-driven technology, compliance standards, and operational capabilities. The program will be powered by Roadzen’s Global Distribution Network platform and is scheduled to launch next quarter.
"This partnership positions Roadzen to play an even greater role in transforming how insurance is delivered across global mobility ecosystems," said Rohan Malhotra, Founder and CEO of Roadzen.
The company’s technology enables policy management, dynamic management information for claims, and payments automation through a digital framework integrated into the automaker’s ecosystem. Roadzen currently operates in 14 countries, providing services from risk scoring and pricing to policy issuance and claims processing.
This deal represents a significant expansion of Roadzen’s role as both a technology and insurance partner to global automakers as vehicles become increasingly connected and manufacturers digitize their insurance programs.
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