Outmarket AI, an innovative platform aimed at transforming the commercial insurance sector, has successfully raised $4.7 million in seed funding. Led by Fika Ventures, with additional contributions from TTV and Dash Fund, this funding will help accelerate the development of Outmarket’s platform, enhance its team, and foster strategic partnerships with top brokers and insurance carriers.
Founded by veterans from the insurtech and AI sectors, Outmarket AI is set to redefine the commercial insurance landscape with its AI-powered platform. The platform integrates directly into brokers’ and carriers’ workflows, automating insights, streamlining operations, and revealing new revenue opportunities in real-time.
The commercial insurance industry, though massive, suffers from outdated workflows that cost brokers and carriers billions in lost productivity annually. Currently, an estimated 80% of commercial insurance transactions still rely on traditional methods like email, PDFs, and manual data entry. This results in inefficiencies, missed revenue, and slow response times for clients.
Outmarket AI utilizes natural language processing, machine learning, and insurance-specific knowledge graphs to deliver AI-driven insights and automation across brokers’ and carriers’ operations, without replacing existing workflows. The platform is highly customizable, integrates seamlessly, and provides actionable intelligence in real-time.
The company was founded by CEO Vishal Sankhla and CTO Anshu Jain, who have assembled a team of AI researchers and insurance experts. The team includes former employees from major companies such as IBM Watson, Meta, Uber, Adobe, and Ethos, the leader in life insurance tech. Sankhla and Jain envision Outmarket as a connectivity layer for retail agencies, wholesalers, and carriers.
Early adopters of Outmarket AI, including top 100 commercial brokers, Managing General Agents (MGAs), and wholesalers, are already experiencing transformative results. Clients have reported reducing quote comparison and policy review times by up to 80%, turning processes that once took days into those completed in just minutes.
Beyond improving efficiency, Outmarket AI offers valuable revenue-generating insights through an intuitive interface. Brokers and carriers can easily navigate both structured and unstructured data, gaining a real-time view of market demand, premium trends, and client profitability. The user-friendly platform also allows insurance professionals to ask natural language questions and receive AI-driven recommendations without needing technical expertise.
Designed with the needs of the insurance industry in mind, Outmarket AI simplifies data exploration, automates reporting, and uncovers actionable opportunities. This enables brokers and carriers to identify cross-selling potential, optimize carrier placements, and maximize profitability—all at unprecedented speeds.
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