Aventus platform

About Aventus platform

Aventus Platform operates as a business-to-business insurtech firm providing a modular Insurance Operating System for the insurance sector. Founded in 2018 by Peter Goodman and Simon Dixon, the London-based company was established after Goodman experienced challenges in finding adequate technology for his prior insurance venture, Homelyfe. This experience led to the creation of the software-as-a-service (SaaS) model that now forms the core of Aventus. In February 2020, the company secured £2.6M in a Seed funding round led by Outward VC and Notion Capital to facilitate its growth.

The firm's core business revolves around its low-code, plug-and-play platform that serves insurers, Managing General Agents (MGAs), and brokers. The business model is designed to generate revenue by offering this technology to clients, enabling them to address legacy system issues and improve operational efficiencies. The platform allows insurance providers to construct and launch insurance products, automate quoting and binding processes, and manage policies. Its clientele consists of retail and wholesale insurance customers in the UK, US, and Australia.

The Aventus platform is built on three main pillars: Distribution, Customer Management, and Digital Underwriting. A key feature is its ability to allow underwriters to automate significant portions of the underwriting process for both standard and complex commercial products through a single system. This includes defining product covers, managing pricing rules in real-time, and handling referral workflows. Furthermore, the platform offers an Aggregator API that integrates with major price comparison websites, which can significantly increase quote volume and sales for its clients. For example, one motor insurer saw its weekly quotes jump from 9,000 to 63,000 after implementing the API. The system combines policy administration with CRM functionalities, aiming to streamline the entire customer journey from initial quote to renewal.