Mylo connects individuals and business owners with a wide array of insurance products. Credit: Poca Wander Stock / Shutterstock.

Ascend, a financial operations automation software provider, has teamed up with US digital insurance broker Mylo.

This collaboration aims to improve processes, simplify workflows, and drive new business for Mylo.

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Ascend, an Orange Partner of insurance software provider Vertafore, is focused on integrations that complement Vertafore’s product suite, aiming to streamline operations for AMS360 agencies such as Mylo.

Mylo, through its Mind of Mylo recommendation engine, connects individuals and business owners with a wide array of insurance products from over one hundred carriers. 

Its offerings span business, auto, home, small group benefits, life, and individual health insurance.

Mylo president and COO Belen Tokarski said: “Our partnership with Ascend signifies a major milestone in our pursuit of insurance transformation through technology. By adopting Ascend’s advanced automation tools, we are poised to unlock enhanced operational efficiencies, streamline financial management processes, and deliver an unparalleled customer experience.  

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“This collaboration exemplifies our commitment to leveraging innovative technologies to drive profitability and establish Mylo as a leader in the technology-driven insurance landscape.”

Ascend co-founder and CEO Andrew Wynn said: “Ascend is prioritising intentional and strategic growth through partnerships in the retail distribution channel. This collaboration aims to revolutionise the insurance industry by combining Ascend’s cutting-edge financial automation solutions with Mylo’s robust ecosystem of channel partners and agencies.”

Adding to its suite of services, Mylo recently partnered with Safeco, a unit of Liberty Mutual, to offer pet insurance coverage.

This new service serves dogs and cats, offering benefits such as the choice of any veterinarian and coverage for pets over eight weeks old without an age limit for policy termination.

In January 2022, Ascend raised $30m in a Series A equity funding round and $250m in debt financing for insurance premium loans.

Index Ventures led the equity funding, with participation from new investors such as Distributed Ventures, HSCM Bermuda, XYZ Ventures, and several angel investors.

Existing investors First Round Capital, Susa Ventures, and FirstMark Capital also contributed to the round.