Pibit.AI has secured $7 million in Series A funding to accelerate development of its CURE underwriting platform, an AI-driven system designed to transform complex insurance applications into fast, trusted decisions.
The round, led by Stellaris Venture Partners with participation from Y Combinator and Arali Ventures, marks a significant step forward in the company’s commitment to modernize underwriting workflows across the industry.
Underwriting has traditionally been a labor-intensive, document-intensive process with tools that have changed little in decades. For Pibit.AI founder and CEO Akash Agarwal, the challenge is personal. Agarwal grew up watching his father spend long hours sorting forms as an insurance agent. Later, Agarwal saw AI transform industries like autonomous vehicles while underwriting remained entrenched in manual processes. This contrast led to Pibit.AI’s founding question: If AI can drive cars, why can’t it lead to better underwriting?
Pibit’s solution is the CURE (Centralized Underwriting Risk Environment) platform, which combines all phases of underwriting – from filing and document analysis to research, risk assessment and workflow management – into one intelligent system. Modules like ClearCURE for triage, DocumentCURE for document intelligence, ResearchCURE for data enrichment, RiskCURE for evaluation, and WorkflowCURE for execution enable underwriters to quickly move from raw submissions to decision-ready deliverables.
Agarwal emphasized that CURE is intended to support underwriters, not replace them. “AI should empower underwriters, not take their jobs away,” he said. “Too many systems prioritize speed over trust. We are building a platform that is transparent and explainable, giving professionals the confidence to move faster without sacrificing accuracy.”
With filing volumes increasing and underwriting talent shortages, insurers are struggling to maintain efficiency. Underwriters can still spend up to a third of their time on manual data entry and selection. Pibit.AI aims to solve this problem by combining advanced automation with human review, ensuring audit-proof accuracy and consistency across teams.
Initial results from customers such as HDVI, Shepherd Insurance, RMS Insurance Brokerage, Kinetic and Method Insurance Company show underwriting cycles shortened by up to 85 percent, a 32 percent increase in gross written premium per underwriter and an improvement in loss ratios by up to 700 basis points. For carriers and MGAs, this has resulted in tighter risk selection, higher capacity and faster growth.
Insurance leaders say the improvements are already tangible. Michaela Morrison, COO of Method Insurance Services, said Pibit.AI has played a critical role in scaling operations nationwide “without losing control.” Kinetic CEO Adam Price added that the platform allows the company to process more than $1 billion in filings annually “without increasing overhead costs,” contributing to nearly 100 percent premium growth.
Investors say the company is redefining the way underwriting is done. Alok Goyal, partner at Stellaris Venture Partners, said the industry has long been held back by manual reviews and inconsistent data. “With CURE, Pibit.AI automates and unifies workflows, improves accuracy, reduces costs and accelerates quoting. We are excited to support Akash and the team as they scale.”
Pibit.AI now employs more than 125 people and plans to expand its AI infrastructure, integrations and data partnerships. The roadmap includes advanced risk models and API layers designed to adapt the platform to new lines of insurance and emerging risks.
As insurers face increasing pressure from rising filing volumes and a shrinking talent pool, Pibit.AI positions itself as a bridge between human judgment and next-generation technology, transforming underwriting from a largely manual craft into an intelligent, scalable science.
