Outmarket AI Raises $4.7M to Enhance AI Solutions in Commercial Insurance

Outmarket AI, an artificial intelligence-driven platform designed for the commercial insurance sector, has raised $4.7 million in seed funding. The investment will be used to expand the company’s team, accelerate product development, and strengthen partnerships with brokers and carriers.

The funding round was led by Fika Ventures, with additional participation from TTV and Dash Fund. With this capital, Outmarket AI aims to further enhance its platform, providing insurers and brokers with AI-driven insights to optimize workflows and improve decision-making processes.

The company leverages natural language processing (NLP), machine learning (ML), and insurance-specific knowledge graphs to help brokers and carriers integrate AI-powered automation into their existing operations. According to the company, clients using its platform have been able to reduce quote comparison and policy review times by up to 80%.

By processing both structured and unstructured data, Outmarket AI enables users to access real-time insights on market trends, premium rates, and client profitability. The platform also allows users to ask questions in natural language and receive AI-generated recommendations, simplifying data analysis, automating reporting, and identifying cross-selling and profitability opportunities.

Founded by Vishal Sankhla and Anshu Jain, the company brings together AI researchers and insurance professionals to bridge the gap between traditional insurance practices and modern data-driven solutions. Sankhla emphasized that brokers and carriers need to unlock the power of their data to remain competitive, but outdated systems and manual processes slow them down. He stated that Outmarket AI serves as the missing intelligence layer that instantly modernizes commercial insurance, allowing professionals to work more efficiently, secure more deals, and increase revenue.

Jain, who serves as co-founder and CTO, highlighted the company’s broader vision of empowering every insurance professional with real-time intelligence at their fingertips. He noted that this is just the beginning of their journey, with a strong commitment to expanding AI-driven capabilities for the insurance industry.

As the demand for digital transformation in the insurance sector grows, AI-driven platforms like Outmarket AI are increasingly being integrated into business operations. The company’s approach aims to streamline processes, enhance decision-making, and provide brokers and carriers with a competitive advantage in a rapidly evolving market.