US-based medical professional liability insurer Indigo has secured $50m in an oversubscribed Series B funding round as it looks to broaden its presence across the country.
The round was led by existing backer Rubicon Founders, with new investor Town Hall Ventures joining current strategic participants including Optum Ventures.
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Indigo said the fresh capital will be directed towards widening its AI-powered underwriting and distribution platform, advancing research and development.
Founded in 2023, the company offers medical professional liability cover to physicians across multiple specialties.
It reported that it now provides insurance to close to 1,000 healthcare professionals nationwide and has exceeded $10m in written premiums.
Indigo CEO Jared Kaplan said: “The next phase of innovation in insurance requires technology purpose-built for complex, specialty risk. This funding allows us to expand our technology footprint, deepen underwriting rigour and deliver an exceptional ease-of-doing-business experience for brokers – while ensuring physicians receive pricing and coverage aligned with their true risk profile.
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By GlobalData“Our results demonstrate that advanced automation can drive profitable growth while reducing operational friction.”
Central to Indigo’s operations is its proprietary AI system, Lux, which applies machine learning and risk modelling to automate underwriting tasks that have traditionally relied upon manual processes.
The company noted that by the end of 2025, 20% of submissions were being underwritten automatically, highlighting a growing reliance on automation within its workflow.
The latest investment is intended to underpin further development of Indigo’s underwriting and distribution capabilities as it increases its footprint in the US medical professional liability market.
Indigo co-founder and partner at Rubicon Founders Matt Kim added: “Indigo is executing at the intersection of deep domain expertise and AI excellence. Their vertical AI strategy isn’t incremental – it fundamentally redefines how risk is assessed, priced and managed.
“We have seen firsthand how their models improve both the speed and quality of underwriting decisions, and this capital will help them scale faster than legacy carriers have been able to for decades.”
