Press Release

Xenex Enterprises Inc. and PledgX Inc. Partner to Transform Surety Bond Underwriting with AI-Powered Insights

Toronto, ON - April 16th, 2025

Xenex Enterprises Inc., a leader in digital surety solutions, has announced a strategic partnership with PledgX Inc., an innovator in AI-driven risk management for the surety industry. This collaboration integrates PledgX’s advanced AI capabilities into Xenex’s SuretyMasterBonds™ platform, setting a new standard for financial assessment and work-in-progress (WIP) analysis for surety bond underwriting.

As the surety industry accelerates its digital transformation, this alliance delivers next-level automation and intelligence to underwriters, enabling faster, smarter decisions with deeper insights into contractor risk and project performance.

Key Benefits for Carrier, MGAs/MGU and Agency underwriters:

Smarter Bond Underwriting: SuretyMasterBonds™ now leverages AI for end-to-end bond lifecycle management—application, underwriting, issuance, and monitoring—with enhanced risk evaluation.
AI-Driven Financial Analysis: PledgX uses machine learning to extract data from documents, detect patterns and red flags in financial data, generating more accurate contractor risk profiles.
Automated WIP Review: Real-time AI analysis identifies anomalies in WIP reports, streamlining reviews and improving underwriting precision.
Enhanced Efficiency: The solution frees underwriters from manual tasks, enabling focus on strategic decision-making and agile market response.

“Xenex has always championed technology as a catalyst for innovation,” said Lorice Haig, CEO of Xenex. “Our partnership with PledgX brings powerful AI analytics to SuretyMasterBonds™, empowering underwriters like never before.”

Satya Vattekat, CEO of PledgX, added: “We’re thrilled to collaborate with Xenex to help the surety industry turn complex data into actionable insights and foster sustainable growth.”

About Xenex Enterprises Inc.

A technology company specializing in digital surety solutions, Xenex’s SuretyMasterBonds™ automates the full bond lifecycle for agencies and carriers across North America.

Contact: Lorice Haig | +1 (416) 740‑9704 | lorice.haig@xenex.ca | www.xenex.ca

About PledgX Inc.

PledgX delivers AI-powered risk management tools for the surety industry, enhancing underwriting and portfolio management.

Contact: Satya Vattekat | +1 (647) 545‑1767 | satya@pledgx.com | www.pledgx.com

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