Pibit.AI Raises $7 Million for Centralized Underwriting Risk Environment

Pibit.AI has secured $7 million in a Series A funding round, led by Stellaris Venture Partners, with contributions from Y Combinator and Arali Ventures. The funds will be allocated to the development of its Centralized Underwriting Risk Environment (CURE) and to enhance its adoption among insurance carriers. Furthermore, the company plans to grow its product and engineering teams to facilitate expansion in the coming year.

About Pibit.AI

Established in 2020 by Akash Agarwal, Pibit.AI is dedicated to creating trustworthy AI systems for underwriting. The company’s focus lies in enhancing the speed and precision of decision-making for underwriters, who often spend substantial time on manual processes and gathering data. The aim is to alleviate operational burdens while providing underwriting teams with dependable and clear outputs.

Understanding CURE

The Centralized Underwriting Risk Environment (CURE) is an integrated system that oversees the complete underwriting workflow. It manages submissions, document analysis, research, risk indicators, and task coordination. Components of CURE include ClearCURE for managing triage, DocumentCURE for document intelligence, ResearchCURE for real-time data enhancement, RiskCURE for evaluating accounts, and WorkflowCURE for centralizing tasks and collaboration.

Focus on Consistency and Trust

Pibit.AI collaborates with clients across various markets and is committed to providing consistency and reliability to underwriting teams facing increasing submission volumes and a shortage of specialised capacity.