Roadzen Closes Acquisition of EliteCover Insurance Solutions
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Roadzen Inc. has completed its acquisition of a majority stake in EliteCover Insurance Solutions, a U.S. commercial auto insurance underwriter. This acquisition integrates EliteCover's platform with Roadzen's AI and telematics technology, aiming to enhance data-driven underwriting and risk management. The deal is expected to generate over $8 million in annual revenues with more than 25% adjusted EBITDA margins. EliteCover's leadership will remain, and the combined entity will focus on advancing commercial auto insurance in the U.S.
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