Pibit.AI Secures $7 Million Series A to Revolutionise Underwriting with AI-Driven CURE™ Platform

Pibit.AI has raised $7 million in Series A funding to enhance its AI-driven underwriting platform, CURE™, transforming traditional processes by automating tasks, improving efficiency, and providing trusted, decision-ready outcomes. The platform aims to modernise underwriting for carriers and MGAs.

Pibit.AI, an emerging leader in the insurtech sector, has announced a successful $7 million Series A funding round. The company aims to transform the traditional underwriting process, which has seen little change over the decades despite advancements in other industries. 

Through its flagship platform, CURE™, Pibit.AI is addressing inefficiencies and creating a more efficient and trusted underwriting environment by leveraging the power of AI. This innovative solution is designed to help underwriters make decisions faster, with greater accuracy, and most importantly, with confidence.

Founded by Akash Agarwal, a former engineer who witnessed his father’s struggles in the insurance industry, Pibit.AI aims to modernise underwriting. Inspired by the rapid advancements in AI-driven industries such as autonomous vehicles, Agarwal questioned why the same transformative potential couldn't be applied to the world of underwriting. This question led to the creation of CURE™, a comprehensive platform that brings AI-powered automation to every step of the underwriting process.

A platform built for underwriters

Pibit.AI’s CURE™ platform redefines the end-to-end underwriting process by providing a unified, intelligent system. The platform integrates various modules, ClearCURE™ for triaging submissions, DocumentCURE™ for document intelligence, ResearchCURE™ for real-time data enrichment, and RiskCURE™ for evaluating each account with portfolio-specific signals. 

These features streamline tasks like document parsing, risk analysis, and workflow management, allowing underwriters to make decisions faster and more efficiently.

“What we’ve built with CURE™ is not just about speed; it’s about trust. Too many systems today focus on speed at the expense of trust, but we’re creating something that is transparent, explainable, and decision-ready. It empowers underwriters to act confidently while moving faster than ever before,” said Akash Agarwal, Founder and CEO of Pibit.AI.

In an industry where submission volumes continue to grow and underwriting talent is in short supply, Pibit.AI’s platform provides a solution to reduce the manual workloads that underwriters traditionally face. Studies show that underwriters still spend a significant portion of their time on manual tasks like data entry, triaging, and enrichment, which slows down the process and increases the risk of errors.

Pibit.AI addresses these challenges head-on by combining automation with intelligent services that ensure human verification and oversight, delivering results that can withstand audit scrutiny.

Proven results with leading customers

The impact of Pibit.AI’s technology is already being felt by its customers. Companies like HDVI, Shepherd Insurance, RMS Insurance Brokerage, Kinetic, and Method Insurance have reported significant improvements in underwriting efficiency. 

Customers have experienced 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.

“As a fast-moving company scaling our operations nationally, Pibit.AI played a key role in ensuring we achieved that growth without losing control. Our outcomes aren’t magic; they are the direct product of thoughtful engineering and a team that genuinely listens,” said Michaela Morrison, COO of Method Insurance Services

Adam Price, CEO at Kinetic, also praised the impact of Pibit.AI: “Pibit.AI helps us handle more than a billion dollars in submissions annually without scaling our overhead costs, enabling us to grow our business by nearly 100% in premiums.”

A new era for underwriting

The results speak for themselves: by combining automation with a deep understanding of underwriting, Pibit.AI is enabling faster decision-making, better risk selection, and increased underwriting capacity. With the Series A funding, the company plans to further develop its AI infrastructure, integrate deeper data partnerships, and expand its risk models to adapt to new lines of business and emerging risks.

Alok Goyal, Partner at Stellaris Venture Partners, spoke about the potential of Pibit.AI’s platform: “With CURE™, Pibit.AI has reimagined the way underwriting works by automating and unifying key workflows, improving accuracy, and accelerating quote generation. We are excited to partner with Akash and the team as they scale the business.”

As the insurance industry faces increasing volumes of data and rising demand for more efficient operations, Pibit.AI is uniquely positioned to bridge the gap between human judgment and AI-powered automation. The company is leading the charge to make underwriting a more intelligent, scalable, and transparent process.

About Pibit.AI

Pibit.AI is a San Francisco-based insurtech company rethinking the underwriting process for carriers and Managing General Agents (MGAs). The company’s CURE™ platform combines AI-powered automation with human verification to create a streamlined, efficient, and trusted underwriting environment.

With funding from Stellaris Venture Partners, Y Combinator, and Arali Ventures, Pibit.AI is transforming the way the insurance industry handles risk by automating submissions, triage, document parsing, and data enrichment to enable faster, more accurate decision-making.

About Stellaris Venture Partners

Stellaris Venture Partners is an early-stage venture capital firm that supports founders building sustainable, market-leading businesses. With a focus on technology-driven companies, Stellaris has invested in a diverse portfolio of over 40 companies across various sectors, including SaaS, consumer, fintech, and healthcare. Stellaris has raised over $600 million in assets and continues to back fearless entrepreneurs who are shaping the future of technology.