Qumis, a commercial InsurTech specialising in attorney-trained artificial intelligence for insurance coverage intelligence, has announced a $4.3m injection of seed capital as it looks to accelerate growth in a rapidly evolving insurance technology market.
The company bagged the capital in an oversubscribed seed funding round led by MTech Capital, with participation from new strategic backer American Family Ventures alongside all existing investors. Following the close of the round, Qumis’ total funding now stands at $6.75m.
Founded to address long-standing inefficiencies in commercial insurance coverage analysis, Qumis positions itself differently from much of the current wave of insurance-focused AI investment.
While many InsurTech platforms concentrate on workflow automation or document processing, Qumis has built an AI system trained by attorneys that blends deep coverage expertise with market intelligence.
The aim is to provide brokers, underwriters and claims professionals with insights that would traditionally require both external legal counsel and dedicated data operations teams.
The platform is designed to read insurance policies in the same way a seasoned coverage attorney would, interpreting how exclusions, endorsements and definitions interact across extensive and often poorly scanned policy documents.
By combining proprietary document processing with multi-stage legal reasoning trained on thousands of real-world coverage analyses, Qumis delivers outputs that include source-linked citations, transparent reasoning chains and confidence signals.
The newly raised capital will be used to further develop its AI-native technology and expand adoption among large insurance brokers and carriers. The funding comes at a time when investment in AI for insurance continues to accelerate, with Qumis seeking to carve out a niche focused on coverage intelligence rather than back-office efficiency alone.
Qumis CEO Dan Schuleman said, “The gold standard for coverage analysis has always been a skilled coverage attorney, but you can’t put one on every account. Qumis changes that. Our platform delivers coverage-expert-level analysis at scale, with the citations and reasoning to back it up. And because it’s AI-native, we can combine that expertise with the kind of market intelligence that large brokers typically need entire data operations teams to produce.”
NFP head of innovation Mark J. Rieder said, “Since rolling out Qumis, our teams are spending less time wrestling with policy language and more time advising clients. It’s like putting a coverage specialist at everyone’s desk — but faster and more consistent.”
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