Insurtech Startup Pibit.AI Raises $7 Million Series A to Accelerate AI-Powered Underwriting Platform

Insurtech Startup Pibit.AI Raises $7 Million from Stellaris, YC & Arali | AIM

Pibit.AI's flagship product, CURE, is a unified, intelligent system that streamlines the entire underwriting lifecycle in a single platform. Pibit.AI, an insurtech company building AI systems for underwriting, has raised $7 million in a Series A round led by Stellaris Venture Partners, with participation from existing investors Y Combinator and Arali Ventures. The funding will be used to strengthen product development and accelerate industry-wide adoption of the company's flagship Centralised Underwriting Risk Environment (CURE). "Pibit.AI was built around one idea: that AI should empower underwriters, not replace them," said Akash Agarwal, Founder and CEO of Pibit.AI. "Too many systems prioritise speed over trust. We're building something transparent, explainable, and decision-ready, a system that gives underwriters confidence in every output while helping them move faster than ever before." Pibit.AI's flagship is CURE, a unified, intelligent system that streamlines the entire underwriting lifecycle by handling submissions, document parsing, research, risk analysis, and workflow orchestration in a single platform. ClearCURE streamlines triage, DocumentCURE extracts and structures submission data, and ResearchCURE enriches it with real-time insights, turning raw submissions into decision-ready outputs in a fraction of the time it takes today. RiskCURE adds portfolio-specific risk signals, while WorkflowCURE unifies all tasks, insights, and collaboration into a single workspace. According to the press release, CURE users have reported up to 85% faster underwriting cycles, a 32% increase in gross written premium per underwriter, and up to 700 basis points of improvement in loss ratios. For insurance providers, this translates to higher capacity, faster growth, and sharper risk selection, it said. Alok Goyal, partner at Stellaris Venture Partners, said, "Underwriting has long been constrained by manual reviews, inconsistent data and tools that haven't kept pace with rising submission volumes." In the next 12-18 months, the company plans to enhance the CURE platform with advanced risk models, API layers, and stronger data partnerships to better address new business lines and emerging risks.

Insurtech startup Pibit.AI raises $7 million from Stellaris, others

The San Francisco-based startup plans to deploy the funds in research and development to strengthen its product, and expand its team, said founder Akash Agarwal. Insurtech startup Pibit.AI has raised $7 million in a round led by Stellaris Venture Partners, with participation from existing investors Y Combinator and Arali Ventures. Founded in 2020 by Akash Agarwal, Pibit.AI has built underwriting systems which are used to evaluate risk and define the insurance premium. This, he says, makes the underwriting faster and more accurate. The San Francisco-based startup plans to deploy the funds in research and development to strengthen its product, and expand its team, added Agarwal. "We are building a vertical AI for a very specific niche of business insurance in the US," said Agarwal in a conversation with ET. "The data is completely unstructured, there is no definite amount of data needed to evaluate risk better, and there is no system in place. We have built a system to solve this problem." Pibit has built a unified system called CURE that aims to streamline the underwriting lifecycle. It handles document submission, checking, research, and risk analysis, and helps make the workflow efficient, said Goyal. "There is a lot of hallucination on LLM (large language model) platforms, so we have built an agentic underwriting platform which is the backend of our system," Agarwal said. According to the company, its users -- currently based in the US -- have reported 85% faster underwriting. The company plans to expand and is looking at regions like Europe next. "Underwriting has long been constrained by manual reviews, inconsistent data, and tools that haven't kept pace with rising volumes," said Alok Goyal, partner, Stellaris Venture Partners, in a statement. "With CURE™, Pibit.AI automates and unifies these workflows, improving accuracy, reducing costs, and accelerating quote generation to drive higher revenues." So far, the startup has raised $7.5 million in two rounds. In India, its office is based out of Bengaluru where the company plans to expand its team after the recent funding round.