Insurtech Flamingo Ai will provide US-based Nationwide Mutual Insurance Company with artificial intelligence services under a six-month commercial agreement.

The “retained agreement” took effect this month and strengthens Flamingo’s ties with the insurer, which has been a client since 2015.

Flamingo has not provided financial details of the agreement, but says the work represents “the largest contract” it has had.

“Although the contract is of significant commercial importance to the company, the revenue from the new contract itself will not have a material impact on the company’s cash burn,” Flamingo says in an Australian Securities Exchange investor update.

Flamingo made a $5.46 million net loss in the December half, despite a 45% rise in revenue to $351,319.

Its founder and CEO Catriona Wallace is the cover article subject in the current edition of Insurance News magazine.