Pibit.AI has raised $7 million to modernize underwriting with its CURE platform, a trusted AI system that turns messy insurance submissions into faster decisions.

Insurance has always been about understanding risk, but for decades, the tools underwriters rely on have barely evolved. Pibit AI, a company rethinking underwriting from the ground up, announced a $7 million funding round to accelerate development of its Centralized Underwriting Risk Environment (CURE) and expedite industry-wide adoption. The round will help the company double down on its mission to make underwriting faster, more accurate, and above all, trusted.

The series A funding round was led by Stellaris Venture Partners with participation from Y Combinator and Arali Ventures. Pibit.AI was founded by engineer Akash Agarwal – and for him, it was personal. Having grown up watching his father work late hours as an insurance agent buried in forms, he later saw how AI transformed industries like autonomous vehicles, while underwriting remained trapped in outdated workflows. The contrast sparked a question that became Pibit.AI’s foundation: if AI can drive cars, why can’t it drive better underwriting?

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The company’s flagship platform, CURE, transforms the end-to-end underwriting process into a unified, intelligent system. It handles submissions, document parsing, research, risk analysis, and workflow orchestration all in one environment. Each module, from ClearCURE for triage to DocumentCURE for document intelligence and ResearchCURE for real-time data enrichment, helps underwriters move from raw submission to decision-ready output. RiskCURE then evaluates each account with portfolio-specific signals, while WorkflowCURE consolidates every task, insight, and collaboration into a single pane of glass.

Why CURE represents a new category rather than a new tool

Most underwriting tools today sit in isolated functions. They may automate document ingestion or speed up triage, but they do not unify the chain from intake to decision. CURE behaves like a centralized brain that coordinates multiple intelligence layers. This includes ingestion, enrichment, scoring, risk flagging, and workflow orchestration in a single environment. The convergence of these capabilities is what gives underwriters a reliable system that feels both fast and responsible.

“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.”

In an industry where submission volumes are rising and underwriting talent is shrinking, efficiency is no longer optional. Underwriting teams still spend up to a third of their time on manual data entry, triaging, and enrichment. Pibit.AI’s platform addresses that head-on by combining automation with an intelligent services layer that also ensures human verification and contextual oversight. It delivers accuracy that holds up under audit, consistency across teams, and visibility across entire portfolios.

The results are already measurable. 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 per underwriter, and up to 700 basis points of improvement in loss ratios. For carriers and MGAs, this translates to higher capacity, faster growth, and sharper risk selection.

“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.”

“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 CURE, 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.”

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With more than 125 employees and dozens of customers, Pibit.AI will be investing further in AI infrastructure and integrations. The company’s roadmap includes expanded advanced risk models, API layers, and deeper data partnerships that will make the CURE platform even more adaptive to new lines of business and emerging risks.

As the insurance industry faces an era defined by data overload and talent scarcity, Pibit.AI is building the bridge between technology and human judgment – turning underwriting from a manual art into an intelligent, scalable science.

How funding will influence the insurtech landscape

A Series A of this size signals that investors believe underwriting modernization is entering a scale phase. Early insurtech investments focused on distribution and claims. Now the spotlight has shifted to underwriting because it directly influences profitability. Pibit.AI’s investment in infrastructure, risk models, and integrations positions it to become a core system rather than an overlay tool. This aligns with the broader market shift toward intelligent underwriting ecosystems.

Pibit.AI is an SF–based insurtech company reconstructing the art (and science) of commercial underwriting for carriers and MGAs. At the heart is the CURE platform, the industry’s only centralized underwriting risk environment fueled by agentic underwriting services that delivers decision-ready outcomes. It converts submissions into decisions by automating intake, triage, and data enrichment from documents and external sources while surfacing risk insights so you can win the right accounts faster, scale throughput, and reduce loss ratios. Backed by Y-Combinator, the proprietary platform serves dozens of clients across the US, enabling 85% faster underwriting, 32% increase in GWP per underwriter, and up to 700 basis points improvement in loss ratios. 

Stellaris Venture Partners is an early-stage, tech-focused venture capital firm supporting fearless founders at the ground level. With a team of former entrepreneurs and business builders, Stellaris is dedicated to helping founders at the earliest stages of company formation build sustainable, market-leading businesses.

Stellaris manages over $600 million in assets and is currently investing from its third fund of $300 million. Stellaris has built a portfolio of more than 40 companies across SaaS, Consumer, Financial Services, B2B Commerce, Education, Mobility and Healthcare. Stellaris portfolio companies that are market leaders in their spaces include Mamaearth, Whatfix, Propelld, Turno, Dashverse and Kiwi, among others.

The bigger trend: data overload and shrinking talent pools

Commercial carriers are experiencing record submission volumes while talent pools tighten. The next generation of underwriters wants modern tools that reduce manual work and let them focus on judgment-based tasks. Platforms like CURE help carriers attract and retain young talent by offloading repetitive work. This has become a more important benefit than many leaders realize.

The efficiency impact beyond numbers

The reported 85 percent faster cycles and 32 percent increase in GWP per underwriter are strong indicators. The more subtle benefit is portfolio consistency. When every underwriter uses the same data sources, enrichment logic, and triage steps, the entire portfolio becomes more predictable. This improves pricing accuracy and loss ratio performance over time.

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FAQs

1. What makes CURE different from traditional underwriting workbenches?

Traditional workbenches digitize manual steps. CURE centralizes the entire lifecycle into one intelligent environment. It handles submissions, document analysis, enrichment, risk evaluation, and workflow coordination from a single system. 

2. Can AI really be trusted in underwriting?

Yes, when built with transparency and human oversight. The CURE platform includes explainable modules that show how an insight or recommendation was generated. Underwriters can audit every step and adjust decisions based on contextual knowledge. 

3. Does CURE replace underwriters?

No. The platform is designed to elevate underwriters, not replace them. It automates repetitive tasks, verifies data, and surfaces insights while keeping humans involved in every decision point. 

4. How does the platform reduce loss ratios?

By ensuring every account is enriched with accurate data, evaluated with portfolio-specific signals, and processed consistently. This helps carriers identify profitable risks, decline unsuitable accounts early, and improve the quality of their overall book.

5. What types of carriers and MGAs benefit the most?

Carriers and MGAs managing large submission volumes, distributed teams, or fast growth trajectories see the most immediate impact. The platform is especially valuable for companies entering new lines of business because it standardizes evaluation criteria.

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