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Pibit.AI Raises $7M Series A to Transform Underwriting with Trusted AI
Pibit.AI has raised $7 million in Series A funding to accelerate the development of its CURE™ platform, which modernises underwriting with trusted AI. The platform automates underwriting processes, increasing speed and accuracy. The funding round was led by Stellaris Venture Partners, with participation from Y Combinator and Arali Ventures.
Pibit.AI, a company transforming commercial underwriting through innovative AI-driven solutions, has raised $7 million in a Series A funding round. The capital will be used to accelerate the development and adoption of its Centralised Underwriting Risk Environment (CURE™) platform, which aims to streamline underwriting processes and improve efficiency across the insurance industry.
Transforming underwriting through AI
Pibit.AI’s mission is to modernise the underwriting process, which has traditionally been slow and reliant on outdated tools. The CURE™ platform offers a comprehensive solution by automating key tasks such as document parsing, risk analysis, research, and workflow orchestration. With CURE™, underwriters can transition from raw submissions to decision-ready outputs, all within a unified system.
This intelligent platform consists of several modules, including ClearCURE™ for triage, DocumentCURE™ for document intelligence, and ResearchCURE™ for real-time data enrichment. RiskCURE™ evaluates accounts using portfolio-specific signals, while WorkflowCURE™ consolidates tasks, insights, and collaboration into a single interface.
A personal vision to modernise underwriting
The company was founded by Akash Agarwal, whose personal experiences with the insurance industry motivated him to seek a technological solution. Having watched his father work late nights as an insurance agent, buried under paperwork, Akash recognised the stark contrast between the advances in industries like autonomous vehicles and the stagnation of underwriting workflows. This led him to ask, “If AI can drive cars, why can’t it drive better underwriting?”
“Pibit.AI was built around one idea: that AI should empower underwriters, not replace them,” said Akash Agarwal, Founder and CEO.
“Too many systems prioritize speed over trust. We’re building something that’s transparent, explainable, and decision-ready – a system that gives underwriters confidence in every output while helping them move faster than ever before.”
Key Benefits for the Insurance Industry
Pibit.AI’s platform addresses a major challenge in the insurance industry: the rising volume of submissions and the shrinking talent pool of underwriters. Currently, underwriting teams spend a significant amount of time on manual tasks like data entry and document triaging. By combining automation with a services layer that ensures human oversight, Pibit.AI is able to improve speed and accuracy while maintaining transparency and trust.
The results speak for themselves. Pibit.AI’s customers, including HDVI, Shepherd Insurance, RMS Insurance Brokerage, Kinetic, and Method Insurance Company, have reported up to 85% faster underwriting cycles, a 32% increase in gross written premium (GWP) per underwriter, and up to 700 basis points of improvement in loss ratios. This has led to higher capacity, faster growth, and sharper risk selection for carriers and MGAs.
Industry Recognition and Investor Confidence
The Series A funding round was led by Stellaris Venture Partners, with participation from Y Combinator and Arali Ventures. “Underwriting has long been constrained by manual reviews, inconsistent data and tools that haven't kept pace with rising submission volumes,” said Alok Goyal, Partner at Stellaris Venture Partners.
“With CURETM, Pibit.AI automates and unifies these workflows, improving accuracy, reducing costs and accelerating quote generation to drive higher revenue. We're excited to partner with Akash and lead Pibit.AI's Series A round as it scales.”
Pibit.AI, now with more than 125 employees, plans to use the funds to expand its AI infrastructure, develop advanced risk models, and integrate deeper data partnerships. This will further enhance the CURE™ platform’s ability to adapt to new lines of business and emerging risks.
“As a fast-moving company scaling our operations nationally, Pibit.AI played a key role in ensuring we achieved that growth without losing control,” remarked Michaela Morrison, COO, Method Insurance Services (a subsidiary of Cake Insure, Inc., a Pinnacol Assurance company).
“Our outcomes aren't magic; they are the direct product of thoughtful engineering and a team that genuinely listens,” she added.
While Adam Price, CEO at Kinetic added: “Pibit.AI helps us to handle more than a billion dollars in submissions on an annual basis without scaling our overhead costs, and grow our business by close to 100% in premium because we're able to get those looks and quotes up and running."
