California-based insurtech firm Sureify Labs formally opened on Monday its new office in Hyderabad and announced plans to increase the headcount at the facility from 220 now to 1,000 by 2025.
“We build technology and offer software-as-a-service for life insurance companies and annuity industry,” founder CEO Dustin Yoder said of the firm that is focussed on the North America market.
Sureify has done some work in Japan and is keen on exploring opportunities to work with large life insurers in India as well within the next couple of years. “We are starting to engage with them,” he said after Industries and IT Minister K.T.Rama Rao inaugurated the office.
On the new office in Hyderabad, Mr. Yoder and head of Product Engineering T. Vijay Kumar said the 12,000 sq.ft. tech development centre will be crucial to the company’s growth and was decided to be established in Hyderabad in view of infrastructure and talent availability. Most of the product development and delivery will happen at the facility. Sureify Labs has 100 employees in the U.S.
Congratulating Sureify team on its decision to expand footprint in the city, the Minister said Hyderabad is witnessing industrial growth across different sectors. With the growth also having a tremendous impact on infrastructure, the State government continues to address the needs by creating more infrastructure and keep pace with the rapid growth of industry.
Industries and IT Secretary Jayesh Ranjan said several large insurtech firms have set up facilities in Hyderabad because of innovation ecosystem, good talent and institutions in the city. Energy Minister G. Jagadish Reddy and former Nasscom chairman B.V.R. Mohan Reddy spoke.
