Ascend and Mylo forge strategic alliance for insurance innovation

Ascend, a frontrunner in financial operations automation software to the insurance industry, has joined forces with Mylo, an insurtech leader known for connecting clients with top-rated insurance products from over a hundred carriers across multiple coverage lines.

An Orange Partner of Vertafore, Ascend aims to partner with AMS360 agencies like Mylo to further advance the modernisation of the industry’s financial infrastructure integrations that complement Vertafore’s suite of products, improving processes, simplifying workflows and driving new business.

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

The collaboration between Mylo and Ascend streamlines operations, reduces manual efforts, and ensures a customised client experience. The unique combination of Ascend’s financial automation platform and Mylo’s guided insurance buying experience marks an exciting milestone in the insurance industry that will drive growth, customer satisfaction, and profitability.

Ascend co-founder and CEO, Andrew Wynn, stated, “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.

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