InsurX offers a cloud‑based smart‑follow platform that automatically extracts data from broker emails, applies algorithmic underwriting rules, and matches risks to insurer capacity in minutes, delivering multiple quotes without human referral. The solution streamlines the submission‑to‑binding workflow, reduces manual effort, and provides real‑time analytics, enabling brokers to place business faster and insurers to underwrite more precisely.
Funding
$2.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Insurance brokers and underwriters spend extensive time manually processing submissions, entering data, and matching risks to insurer appetites, leading to slow quote turnaround, missed capacity, and inefficient relationship management.
Solution
InsurX provides a cloud‑based “smart follow” platform that automatically extracts data from broker emails, codifies insurer appetite with algorithmic underwriting rules, and matches risks to capacity in minutes. The system generates and delivers multiple quotes without human referral, enabling brokers to obtain capacity with a single email and insurers to underwrite precisely according to their defined criteria. Real‑time analytics and insights are shared with both parties, allowing faster decision‑making, reduced manual effort, and stronger partner relationships. By digitizing the entire submission‑to‑binding workflow, InsurX accelerates trading, increases gross written premium, and frees users to focus on client service.
Target Audience
Primary users are insurance brokers seeking faster placement and insurers aiming to underwrite targeted risks with greater speed and control.
Features
- Automated data extraction from broker submissions and instant structuring into digital risk objects
- 3D algorithmic rule engine that lets insurers define nuanced appetite parameters mirroring human underwriters
- Real‑time precision matching of risks to insurer capacity, delivering multiple quotes within minutes
- End‑to‑end transaction execution, including quote generation, binding, and post‑trade analytics
- Integrated email‑to‑quote workflow requiring a single broker email to trigger the process
- Dashboard and data insights for insurers to monitor underwriting performance and capacity utilization