Qumis, a Chicago, IL-based supplier of a lawyer-built AI platform to empower insurance coverage data work, raised $2.2M in Pre-Seed funding.
The spherical was led by Armory Sq. Ventures with participation from MTech Capital, Grand Ventures, Alumni Ventures, and BrokerTech Ventures. Strategic traders included Sean Harper, co-founder and CEO of insurtech unicorn Kin Insurance coverage, and Tom Vander Schaaf, former Common Accomplice at Edison Companions.
The corporate intends to make use of the funds to scale its AI capabilities, speed up product growth, and increase its buyer base.
Led by CEO Dan Schuleman and CTO Shiv Sinha, Qumis offers an AI-driven platform enhancing insurance coverage data work. It permits to grasp insurance coverage insurance policies and make knowledgeable choices with precision. The platform is already utilized by brokers, carriers, and legislation companies to ship higher outcomes throughout brokering, claims, and compliance.
Its key options embody:
- Actual-time insights: offers brokers, carriers, and brokers with real-time coverage insights to enhance claims administration and underwriting choices.
- Sooner and cheaper law-firm caliber protection evaluation for advanced claims: scans and analyzes advanced insurance coverage insurance policies and declare recordsdata to evaluate protection points and draft protection letters inside minutes as an alternative of weeks.
- On the spot coverage comparability and evaluation: compares insurance coverage insurance policies, quotes, and binders to establish gaps and make protection suggestions.
FinSMEs
21/01/2025
