The startup offers an insurance platform that leverages artificial intelligence and third-party data to automate the application process for commercial insurance agents. By eliminating manual data entry and providing real-time updates on requests and carrier performance, the platform reduces time spent on applications and minimizes errors.
Funding
$31M 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.
DCFounders
Product
Problem
Commercial insurance agents face challenges with manual data entry and fragmented workflows when applying for insurance coverage, leading to inefficiencies and increased error rates. This process can be time-consuming, hindering agents' ability to quickly secure the best coverage options for their clients.
Solution
Semsee provides a platform designed to streamline and automate the commercial insurance application process for agents. By leveraging AI and integrating third-party data, the platform eliminates manual data entry, reduces the time spent on applications, and minimizes errors. Semsee offers real-time updates on requests and carrier performance, enabling agents to efficiently access multiple markets and identify optimal coverage solutions. The platform's features include class code finders, auto-fill capabilities, question flagging, and ACORD form management, all within a user-friendly interface. Semsee also offers a market access program to connect agents with additional markets, including E&S options, and provides tools for duplicate applications and appetite checking.
Target Audience
The primary target audience includes commercial insurance agents, agencies, and brokers seeking to streamline their quoting process, access a wider range of markets, and reduce administrative overhead. Semsee also caters to carriers and MGAs looking to expand their distribution network and improve agent experience.
Features
- AI-powered class code finder and NAICS classification
- Automated data pre-fill to minimize manual entry
- Intelligent question flagging to ensure application completeness
- ACORD form upload and download capabilities
- Real-time updates on carrier performance and application status
- Market Access program for access to additional admitted, non-admitted, and specialty lines markets
- Appetite checker to identify suitable markets for specific risks
- Duplicate application feature for renewals and limit adjustments
- Proposal generator and invoice creation tools
- Advanced analytics and reporting
- Integration with carrier portals via API or RPA connections