Insurtech startup Pibit.AI raises $7 Mn in Series A round

AI-based Insurtech startup Pibit.AI has raised $7 million in a Series A funding round led by Stellaris Venture Partners.

The round also saw participation from existing investors Y Combinator and Arali Ventures. 

The funds will be used to build its Centralized Underwriting Risk Environment (CURE) and encourage more insurance carriers to adopt it. The company will also grow its product and engineering teams to support expansion over the next year.

“Pibit.AI was built around one idea: that AI should empower underwriters, not replace them,” says 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.”

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

Adam Price, CEO, Kinetic, adds: “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 percent in premium because we’re able to get those looks and quotes up and running.”

About Pibit.AI 

Founded in 2020 by Akash Agarwal, Pibit.AI offers an AI-driven underwriting platform called CURE (Centralised Underwriting Risk Environment) that automates data collection, analysis, and risk assessment.

Advertisment

Its main modules include:

DocumentCURE: Converts unstructured submissions into structured data and flags missing information or errors.

ClearCURE: Cleans and standardises messy insurance submissions so they can flow directly into an insurer’s core system.

WorkflowCURE: Streamlines the entire submission-to-quote process and provides portfolio-level insights to improve efficiency and boost GWP.

ResearchCURE: Gives underwriters clear scores and signals to make quicker, better decisions and grow GWP.

RiskCURE: Evaluates each account using portfolio-specific indicators for a complete risk assessment.

The startup says its tools are used by several insurance carriers, including Kinetic, Shephard, and Method, with most of its customers based in the US.

Advertisment

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Latest Business and Startup News: Discover Funding Trends and Stories Shaping Indian Startups.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving success.