Summit combines experienced insurance brokers with an AI‑driven platform that automates data collection, risk assessment, and multi‑carrier quoting for Canadian mid‑size businesses. The system continuously monitors compliance, alerts on renewals, and streamlines claim handling, delivering tailored coverage plans that reduce gaps and lower costs.
Funding
$3.5M 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.
ICFounders
Product
Problem
Commercial insurance brokerage processes rely on manual data entry, spreadsheets, and infrequent policy reviews, leading to hidden coverage gaps, over‑paying for unnecessary limits, and a cumbersome claims experience for Canadian businesses.
Solution
Summit pairs experienced insurance brokers with a proprietary AI‑driven platform that automates data collection, conducts technical risk assessments, and compares policies across multiple carriers. The system generates a tailored risk‑management plan, continuously monitors compliance, and proactively manages renewals to keep coverage aligned with business growth. Brokers focus on advisory and claim support while the technology handles the heavy lifting of analysis, carrier shopping, and documentation. Clients receive a transparent, year‑round insurance experience that reduces gaps, optimizes cost, and simplifies claim handling.
Target Audience
Summit serves mid‑size Canadian companies across industries that need comprehensive commercial property, liability, and specialty coverage, as well as brokers seeking a technology‑enhanced platform to serve their corporate clients.
Features
- Conversational intake that replaces lengthy paper applications with a guided data capture of operations, industry, and growth plans
- AI‑powered risk assessment engine that evaluates exposure, identifies coverage gaps, and recommends optimal policy structures
- Automated multi‑carrier quoting and side‑by‑side comparison to surface the most cost‑effective options
- Ongoing compliance monitoring and proactive renewal alerts to ensure continuous protection
- Integrated claim assistance workflow that streamlines documentation and communication with insurers
- Dashboard for clients and brokers providing real‑time policy insights, coverage summaries, and risk metrics