
BSynchro
Innovative Software and Solutions company operating in the Middle East, Africa and Asia.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor | €0.0 | round |
investor investor | €0.0 | round | |
$1.0m | Series B | ||
Total Funding | 000k |
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BSynchro, founded in 2005 by Michel Chammas, operates as a business and information technology service firm with a strategic focus on the InsurTech sector. Based in Beirut, Lebanon, the company has established a significant presence across the Gulf, Levant, Africa, and North America, serving over 80 clients in 25 countries.
The company's business model is centered on providing software development and consultancy to digitize the processes of insurance-related companies. BSynchro generates revenue by delivering a suite of software solutions and managed services that enhance operational efficiency and customer experience for insurers, brokers, and reinsurance brokers. A key milestone was the acquisition of a majority stake in Arima Insurance Software, a Bahrain-based specialist in core insurance and reinsurance solutions, on March 31, 2014. The company has successfully raised a total of $1.6 million over two funding rounds, with a notable Series B round of $1 million in June 2019 led by Berytech Fund II and Phoenician VC. This capital is being used to further develop its product suite by integrating technologies like artificial intelligence, machine learning, and robotic process automation.
BSynchro's product portfolio is designed to re-engineer the insurance industry through modern digital tools. Key offerings include 'CORA', a product configuration and automated underwriting solution; 'ELLIE', an online portal for customers and agents to manage policies; and specialized CRM solutions built on Microsoft Dynamics 365. The firm also provides solutions for claims management automation, business intelligence for analytics, and various digital interfaces like chatbots and mobile apps to improve customer interaction. For the Bancassurance market, it offers a platform to automate the entire sales cycle. These products serve to streamline operations, from needs analysis and policy issuance to claims settlement and reporting.
Keywords: InsurTech, insurance software, digital transformation, claims management, reinsurance solutions, policy administration, underwriting automation, CRM for insurance, Robotic Process Automation, AI in insurance, machine learning, business intelligence, Bancassurance, insurance aggregator, fintech, Michel Chammas, Berytech, Arima Insurance Software, digital brokerage, customer portals