AI-driven insurance intelligence platform, Outmarket AI, has secured $4.7m in seed funding to accelerate its growth.
The funding round was led by Fika Ventures, with additional backing from TTV and Dash Fund. The investment marks a significant milestone for the company as it seeks to expand its capabilities in the InsurTech sector, according to InsurTech Insights.
The company, which specialises in AI-powered insights for the insurance sector, aims to modernise commercial insurance operations by eliminating outdated systems and manual processes.
Outmarket AI leverages natural language processing, machine learning (ML), and insurance-specific knowledge graphs to provide AI-driven automation and insights.
The platform serves as a connectivity layer for wholesalers, retail agencies, and carriers, integrating structured and unstructured data to offer real-time insights into market trends, premiums, and client profitability.
The newly acquired capital will be used to grow Outmarket AI’s workforce, enhance its platform’s capabilities, and strengthen partnerships with brokers and carriers.
By incorporating AI-powered recommendations, the platform aims to simplify data analysis, automate reporting, and identify cross-selling opportunities for insurance professionals.
According to the company, early adopters have reported up to an 80% reduction in quote comparison and policy review times, significantly improving operational efficiency. Outmarket AI seeks to address inefficiencies in the insurance industry, providing professionals with real-time intelligence to drive smarter decision-making.
Outmarket AI CEO Vishal Sankhla highlighted the platform’s transformative impact, stating: “Brokers and carriers know they need to unlock the power of their data to stay competitive, but outdated systems and manual processes slow them down. Outmarket is the missing intelligence layer that modernises commercial insurance instantly. With AI-powered insights and automation, we help insurance professionals work smarter, win more deals, and grow revenue – fast.”
Co-founder and CTO Anshu Jain reinforced the company’s vision, stating: “Our vision is to empower every insurance professional with real-time intelligence at their fingertips. We are just getting started.”
As Outmarket AI continues to scale its operations, it remains focused on revolutionising the insurance sector through AI-driven solutions, paving the way for further innovation and growth.
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