Palamon-backed FairConnect completed the acquisition of G-Evolution from Groupama.

Palamon-backed FairConnect, a provider of connected insurance services, completed the acquisition of G-Evolution, a telematics service provider that specialises in analysing automotive data using advanced AI algorithms, from Groupama, an insurance comapny. Financial term were not disclosed. “G-Evolution is a best-in-class technology platform specialized in claims handling and settlement. The cutting-edge technologies of G-Evolution, combined with our deep industry experience, creates a unique pan-European Connected Insurance platform that will enable FairConnect to support Groupama in expanding, simplifying and digitalizing the product offering by leveraging our connected plug and play solutions that can increase customer loyalty and the company's technical profitability," Carmine Carella, FairConnect Chairman and CEO.